As on 31st March, 2020, Books of Amit showed the following balances:-
Cash Rs. 25,000, Machinery Rs. 60,000, Stock Rs. 25,000 Capital Rs. 75,000. Calculate Liabilities
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Explanation:
capital= assets - liab
75000= 110000-liab
75000-110000= _liab
-35000= -liab
therefore liab = 35000
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