[CBSE] Q 25 Accounting Equation TS Grewal Class 11 (2023-24)

Are you looking for the solution of Question number 25 of Accounting Equation chapter TS Grewal class 11 CBSE Board 2023-24?

Calculate the amount of External Equities as on 31st March, 2022 in the following cases:

(i) On 31st March, 2022, total assets and capital were ₹ 15,00,000 and ₹ 10,50,000 respectively.

(ii) On 1st April, 2021, Mukesh started business with a capital of ₹ 3,00,000 and a loan of ₹ 3,00,000 borrowed from a friend. During the year, he earned a profit of ₹ 1,50,000. On 31st March, 2022, the total assets were ₹ 15,00,000.

(iii) On 1st April, 2021, Ramesh started business with a capital of ₹ 3,00,000 and a loan of ₹ 3,00,000 borrowed from a friend. During the year, he earned a profit of ₹ 1,50,000, introduced an additional capital of ₹ 1,80,000 and had withdrawn ₹ 90,000 for his personal use. On 31st March, 2022 total assets were ₹ 15,00,000.

[(i) ₹ 4,50,000; (ii) ₹ 10,50,000; (iii) ₹ 9,60,000.]

Solution:-

Case – 1

Case – 2

Case – 3