Question

Arjun commenced his business on 1st April 2019 with assets having value of
₹3,15,000 and liabilities owing to outsiders ₹ 20,000. During the year 2019-20, he
suffered a loss of ₹25,000 and had withdrawn ₹31,000 from his business. Calculate
the value of assets & capital as on 31st March 2020 if Arjun introduced a further
capital of ₹10,000 during the year.

Answer 1

Answer:

Assets=315000

liabilities=20000

Assets=315000-25000=290000

Assets=Liabilities+ Capital

290000=20000+270000

But, arjun withdraw 31000

so,

270000-31000

=239000

and, introduce further Capital is 10000

so,

239000+10000

=249000

So, now values of:

Assets=290000

Liabilities=20000

Capital=249000

Hope it helps you

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