Question

Q1 Shweta started a departmental Store on 1st April 2016 by investing rupees 600000 in cash and took a loan of rupees 400000 from the bank . on 31st March 2017 her assets worth rupees 15 lakh and trade creditors rupees 100000 other than bank loan.find out her capital on 31st March 2017 and profit on during the year
Q2if total assets of business are rupees 150000 and capital is rupees 70000 calculate the amount of outside liabilities
Q3 show the accounting equation on the basis of following transactions and prepare balance sheet for the final equation
1) Udit started business with cash 500000 goods 100000 and building 5 lakh
2) purchase goods from Arora 50000
3) insurance premium paid in advance 6000
4) rent outstanding 5000
5) depreciation on building @ 4%
6) goods costing rupees 25000 were sold on credit rupees 35000
7) good stolen away 2000

Answer 1

Answer:

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