Question

on 31st december 2003 the assets and liabilities were Rs.1,00,000 and Rs. 30,000 respectively . calculate capital

Answer 1

Answer:

70,000 is the capital.

Explanation:

Capital is the balance of assets left after reducing all outside liabilities.

Here, capital = 1 lakh of assets less 30,000 of liabilities = 70,000.