Question

Rameshwar started business with 3,00,000. He took a loan of 1,00,000 from bank.His assets
were 6,00,000 and creditors 20,000 (except bank loan)at the end of the year.Calculate the capital
of Rameshwar at the end of the year and profit earned during the year

Answer 1

Answer:

180000

Explanation:

balance sheet

liabilities. assets

capital. 300000 assets. 600000

profit earned 180000

(600000-

300000-

100000-

20000)

loan. 100000

creditors. 20000

600000. 600000

Answer 2

balancesheet

liabilities. assets

capital. 300000 assets. 600000

profit earned 180000

(600000-

300000-

100000-

20000)

loan. 100000

creditors. 20000

600000. 600000