Question

Calculate the total assests if
Capital is 50,000rs
Creditors30,000rs
Revenue during that period 52,000rs
Expenses during the same period are 38,000rs

Answer 1

Answer:

₹94000

Explanation:

Asset=capital + liability

here liability is ₹30000.

profit earned =52000-38000=₹14000

capital= ₹50000+profit

=₹50000+₹14000

=₹64000.

Therefore

Totel asset=₹64000+₹30000

=₹94000.

Answer 2

Total Assets = 94,000

Explanation:

Given:

Capital = 50,000

Creditor = 30,000

Revenue during the period = 52,000

Expenses during the period = 38,000

Computation of Net profit:

Net profit = Revenue during the period - Expenses during the period

Net profit = 52,000 - 38,000

Net profit = 14,000

Computation of Total Assets:

Total Assets = Capital + Creditor + Net profit

Total Assets = 50,000 + 30,000 + 14,000

Total Assets = 94,000

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