Class11(Commerce) Chapter:- Accounting equation.
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8. A. Op capital + Profits during the year - Drawings = Closing Capital.
Therefore Closing capital = 10K+5K-4k = 11k
Borrowings doesn't have any impact on capital.
B. Balance sheet formula is
Closing capital+Borrowings i.e Total liabilities = Total Assets
Closing capital = 15k+3k=18k
Add: Borrowings=2.5k
Total liabilities= 20.5k
Therefore total assets=20.5k
Therefore Closing capital = 10K+5K-4k = 11k
Borrowings doesn't have any impact on capital.
B. Balance sheet formula is
Closing capital+Borrowings i.e Total liabilities = Total Assets
Closing capital = 15k+3k=18k
Add: Borrowings=2.5k
Total liabilities= 20.5k
Therefore total assets=20.5k
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Answer:
Answer for Question 8 (A) and (B)
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