Question

From the following information, calculate the total assets of the business.

Capital Rs 8,00,000, creditors Rs 6,00,000, revenue earned during the period Rs 15,00,000,

expenses incurred during the period Rs 4,00,000 and value of unsold stock Rs 4,00,000.​

Answer 1

Answer:

Total assets = 8,00,000 + 15,00,000 + 4,00,000 - ( 6,00,000 + 4,00,000)

= 27,00,000 - 10,00,000

= Rs. 17,00,000

Answer 2

Explanation:

Revenue earned during the period -------------------------------- 15,00,000

Less: Expenses ---------- 4,00,000

Profit ---------------------------- 11,00,000

 

Total Assets = Capital + Profit + Creditors

= 8,00,000 + 11,00,000 + 6,00,000

= 25,00,000

 

Therefore, the Value of Total Assets is Rs 25,00,000