Question

Calculate total equity if: (a)  Owner’s equity in the beginning is ₹ 24,000 (b) Creditor’s equity at the end is ₹ 20,000 (c) Revenue (income) during the period is ₹ 28,000. (d) Expenses during the same period are ₹ 26,000 Also calculate owner’s equity at the end​

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Answer 1

Answer:

b)creditor equity at the end is 20,000-24,000=4,000 then it goes to revenue

c)revenue (income)during this period is 28,000+4,000=32,000

d)expense during the same period of time are 26,000- 32,000=6,000

calculating owners equity at the end is 6,000+24,000=30,000

Explanation:

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