[ISC] Q 21, Q 22 Accounting Equation TS Grewal Class 11 (2026-27)

Solution of Question number 21 and 22 of Accounting Equation chapter TS Grewal class 11 ISC Board (2026-27)

Q. 21. (a) Mohan started a business on 1st April, 2021 with a capital of ₹ 10,000 and borrowed ₹ 3,000 from a friend. He earned a profit of ₹ 5,000 during the year ended 31st March, 2022 and withdrew cash ₹ 4,000 for personal use. What is his capital on 31st March, 2022?

[₹ 11,000.]

(b) Mahesh started a business with a capital of ₹ 15,000 on 1st April, 2021. During the year, he made a profit of ₹ 3,000. He owes ₹ 2,500 to suppliers of goods. What is the total of assets in his business on 31st March, 2022?

[₹ 20,500.]

Solution:-

Q. 22. On 31st March, 2022, the total assets and external liabilities were ₹ 2,00,000 and ₹ 6,000 respectively. During the year, the proprietor had introduced capital of ₹ 20,000 and withdrawn ₹ 12,000 for personal use. He made a profit of ₹ 20,000 during the year. Calculate the capital as on 1st April, 2021.

[Opening Capital ₹ 1,66,000.]

Solution:-