Question

Q10. Shyam started a business with a capital investment of Rs.20,00,000 as on 1st April, 2010. On 15th April 2010 he took a loan of Rs.5,00,000 and invested this amount into the business. On 1st May 2010 he introduced additional capital of Rs.10,000. He suffered a loss of Rs.10,000. Cash withdrawn by businessman by Rs.20,000. Calculate the amount of total assets and capital as on 31st March 2011.

Answer 1

capital on 1st apr 2010     20,00,000
(+) additional capital              10,000
(-)loss for the year                 (10,000)
(-)drawings                             (20,000)
capital on 31th march 2011  19,80,000
 
Therefore capital = 19,80,000

total assets = capital + liability 
                    =19,80,000+5,00,000
                    =24,80,000

therefore total asset 2480000