ANSWER THE FOLLOWING Assets =Capital+Liabilities a.1,00,000=?+40,000 b.?=70,000+30,000
Answers
Answer:
Transaction
No. Assets = Liabilities Capital Total
Cash Stock of Goods Debtors Furniture Total
1. Harsha started business with cash ₹ 2,00,000
2,00,000 2,00,000
2,00,000 – – – 2,00,000 = – 2,00,000 2,00,000
2. Purchased goods from Naman for cash ₹ 40,000
(40,000) 40,000
1,60,000 40,000 – – 2,00,000 = – 2,00,000 2,00,000
3. Sold goods to Bhanu costing ₹ 10,000/- ₹ 12,000
(10,000) 12,000 2,000
1,60,000 30,000 12,000 – 2,02,000 = – 2,02,000 2,02,000
4. Bought furniture on credit ₹ 7,000
7,000 7,000
1,60,000 30,000 12,000 7,000 2,09,000 = 7,000 2,02,000 2,09,000
Total 2,09,000 = 2,09,000
Thus we’ve Assets = Cash ₹ 1,60,000 + Goods ₹ 30,000 + Debtors ₹ 12,000 + Furniture ₹ 7,000 = ₹ 2,09,000
Liabilities = Creditors ₹ 7,000
Capital = ₹ 2,02,000
Assets ₹ 2,09,000 = Liabilities ₹ 7,000 + Capital ₹ 2,02,000
Answer:
Thus we’ve Assets = Cash ₹ 1,60,000 + Goods ₹ 30,000 + Debtors ₹ 12,000 + Furniture ₹ 7,000 = ₹ 2,09,000
Liabilities = Creditors ₹ 7,000
Capital = ₹ 2,02,000
Assets ₹ 2,09,000 = Liabilities ₹ 7,000 + Capital ₹ 2,02,000