Question

find the total assets of the firm if the capital is rupees 160000 and liabilities are rupees 40000​

Answer 1

Answer:

Assets = Liabilities + Capital

therefore, 40000+160,000 = 2,00,000

Answer 2

Answer: The total assets of the firm is rupees 200000.

Step-by-step explanation:

Given: The capital is rupees 160000 and liabilities are rupees 40000​.

To find: We have to find the total assets of the firm.

Explanation:

Step 1: As per the given problem, the accounting equation can be given as,

                   Capital + Liabilities = Total assets

Step 2: Since we have given capital is rupees 160000 and liabilities is rupees 40000. So, on putting these values in accounting equation we can find the total value of total assets of the firm.

i.e.                       $160000+ 40000=200000$

Hence, the total assets of the firm is rupees 200000.

Concept: An Accounting Equation represents the relationship between assets and liabilities of the firm, showing total assets of the firm is equal to the total liabilities and owner’s capital/equity. An Accounting equation is based on the dual aspect concept of accounting.

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