Question

26. Calculate the amount of External Equities as on 31st March, 2021 in the following 33
(1) On 31st March, 2021, total assets and capital were 15,00,000 and 10.50
(ü) On 1st April, 2020, Mukesh started business with a capital of 3,00,000 and a loans
33,00,000 borrowed from a friend. During the year, he earned a profit of 1,5058)
(iii) On 1st April, 2020, Ramesh started business with a capital of * 3,00,000 and a la
On 31st March, 2021. the total assets were 15,00,000.
of 73,00,000 borrowed from a fixed. During the year, he earned a profit of 1,50.01
introduced an additional capital of 1,80,000 and had withdrawn 90,000 for
personal use. On 31st March, 2021 total assets were 15,00,000.
​

Answer 1

Answer:

I) assets= liabilities +capital

liabilities = assets-capital

15,00,000-10, 50,000

₹4, 50,000

ii) liabilities =assets - opening capital + profit -loan

₹1500000-300000+1, 50,000-3, 00,000

=₹10, 50,000

Answer 2

Explanation:

1) Assets=Liabilities+capital

Liabilities=assets-capital

=1500000-1050000

=450000

2) Liabilities=assets-opening capital+profit-loan

=1500000-300000+150000+300000

=1050000

3)Capital=Total assets+drawing-loan-profit - additional Capital

=1500000-90000-300000-150000-180000

=960000

I hope this answer help you