Question

If total assets of a business are 300000 rs and capital of rs 240000 then calculate the credieteors

Answer 1

Answer:

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Answer 2

Answer:

The total Creditors of the business are 60,000.

Explanation:

Given:

Assets of the company = 300000

Capital of the company = 240000

To Find:

Liabilities/creditors of the company

Assumption:

The total liabilities equal to creditors

Solution:

Assets = Capital + Liabilities

300000 = 240000 + Liabilities

Liabilities = 300000 - 240000

Liabilities = 60000

Definition:
Assets:

• Any resource that a company or other economic organization owns or controls is considered an asset in financial accounting.
• Anything that has the potential to provide positive economic value qualifies.
• The ownership value that may be turned into cash is represented by assets.

Liability:

• According to the definition of a liability in financial accounting, a liability is an obligation an entity has to forgo future financial gains to other entities as a result of previous transactions or other past events, the resolution of which could lead to the transfer or use of assets, the rendering of services, or other future financial gains.

Capital:

• A capital account is a tool used in macroeconomics and international finance to track the net flow of investment transactions into an economy.
• It is one of the balance of payments two main elements, together with the current account.

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