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
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Answer:
Total equity=Owner’s equity+income-expanses=Assets-liabilities.
Hence,
Total equity=180000−150000+200000−80000=150000
Hope it's helpful dear
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