Gopinath Started business with cash ₹ 25,000: Show the Accounting Equation on the basis of the following transactions
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Pranav started business on 1st April, 2021 with capital of ₹ 5,50,000. On 31st March, 2022 his total assets were ₹ 10,75,000 and liabilities were ₹ 2,92,500
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Calculate the amount of External Equities as on 31st March, 2022 in the following cases: On 31st March, 2022, total assets and capital were ₹ 15,00,000
Solution:- Case – 2 Case – 3
Mohan started a business on 1st April, 2021 with a capital of ₹ 25,000 and a loan of ₹ 12,500 borrowed from Shyam
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On 31st March, 2022, the total assets and external liabilities were ₹ 2,00,000 and ₹ 6,000 respectively
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Mohan started a business on 1st April, 2021 with a capital of ₹ 10,000 and borrowed ₹ 3,000 from a friend
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Gurman had a capital of ₹ 75,000 on 1st April, 2021. He had also goods amounting to ₹ 15,000 which he had purchased on credit and the payment had not been made
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Calculate the total assets if: (i) Capital is ₹ 40,000. (ii) Creditors are ₹ 25,000. (iii) Revenue during the period is ₹ 50,000.
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A commenced his cloth business on 1st April, 2021 with a capital of ₹ 30,000. On 31st March, 2022, his assets were worth ₹ 50,000 and liabilities of ₹ 10,000
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If total assets of a business are ₹ 1,30,000 and net worth is ₹ 80,000. Calculate the creditors.
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