Q22. X started a business 1st
April, 2018 with a capital of Rs.
50,000 and a loan of Rs.
25,000 taken from Y. During
2018-19, he had introduced
additional capital of Rs. 25,000
and had withdrawn Rs. 15,000
for personal use.On 31st,
March, 2019 his assets were
Rs. 1,50,000. Find his profit
during 2018-19.
Rs. 65,000
Rs. 70,000
Rs. 80,000
Rs. 75,000
Answers
Answered by
1
Answer:
Rs 65,000
Explanation:
Asset = Capital + Liability
Assets = 150,000
Capital = 50,000 + 25,000 - 15,000 + Profit
Liability = 25,000
Therefore by applying accounting equation
150,000 = 60,000 + Profit + 25,000
Profit = 150,000 - 60,000 -25,000
Profit = 65,000
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