Question

Calculate total assets :

a. Owner, capital in the beginning Rs. 2,60,000.

b. Creditors, at the end Rs. 40,000.

c. Income during the period is Rs. 1,00,000.

d. Expenses during the same period are Rs. 50,000 also calculate the capital at the end8​

Answer 1

Answer:

total assets = capital + creditors + net profit (income - expense )

= 260000 +40000 + 100000 - 50000

= 350000

capital = capital given + net profit

= 260000 + 50000

= 310000