Question

Q.5 Calculate the amount of external equities as on 31st March ' 2015:
Amit started a business with a capital of ` 20,000 on 1st April,2014.On the same day, he also borrowed ` 5,000 from a friend to invest in business. During 2014-15, he earned a profit of ` 10,000, introduced an additional capital of ` 12,000 and had withdrawn ` 6,000 for his personal use. One 31st March, 2015, the total assets were ` 1,00,000.​

Answer 1

Answer:

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