Question

Calculate Total Equity if: (1)

(a) Owner’s equity in the beginning ₹ 36,000

(b) Equity of creditors at the end of ₹ 30,000

(c) Revenue during the period is ₹ 42,000

(d) Expenses during the same period of ₹ 39,000 ​

Answer 1

Answer:

Total equity=Owner’s equity+income-expanses=Assets-liabilities.

Hence,

Total equity=180000−150000+200000−80000=150000

Hope it's helpful dear