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Question 3
The position of a businessman on 30th June 1994 was as follows –
Cash ₹5,000, Debtor ₹20,000, Machinery ₹60,000, Stock ₹25,000, Capital ₹75,000. Calculate his liabilities.
Solution: Liabilities = Assets- Capital
Liabilities = ₹5,000 + ₹20,000 + ₹60,000 + ₹25,000 – ₹75,000
= ₹1,10,000 – ₹75,000
= ₹35,000
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