Mr. X wants to purchase a piece of land costing Rs 10, 00,000. To do so, he has to borrow. S.B.I agree to finance if he can invest Rs 2, 00,000. For measuring the capacity of Mr. X the banker asks two specific questions :(i) What the things of value are you owned?(ii) How much do you owe, and to whom?Mr. X repliesThings I owned: Term deposit Rs 1, 00,000, Demand Deposit Rs 3, 00,000, Other Personal Possessions Rs 1, 00,000.Things I owed: Loan from Friend: 1, 00,000.Now as a banker you have to:(iii) Calculate the Net worth of Mr. X(iv) Prepare a Financial Statement.
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