[CBSE] Q 24 Accounting Equation TS Grewal Class 11 (2023-24)
Are you looking for the solution of Question number 24 of Accounting Equation chapter TS Grewal class 11 CBSE Board 2023-24?
Mohan started a business on 1st April, 2021 with a capital of ₹ 25,000 and a loan of ₹ 12,500 borrowed from Shyam. During 2021-22, he had introduced additional capital of ₹ 12,500 and had withdrawn ₹ 7,500 for personal use. On 31st March, 2022, his assets were ₹ 75,000. Find out his capital as on 31st March, 2022 and profit made or loss incurred during the year 2021-22.
[Closing Capital ₹ 62,500; Profit ₹ 32,500.]
Solution:-
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