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

Share your love

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 During the year, he earned a profit of ₹ 1,50,000, introduced an additional capital of ₹ 1,80,000 and had withdrawn ₹ 90,000 for his personal use.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

Share your love
Anurag Pathak
Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

Articles: 7052

Leave a Reply

Your email address will not be published. Required fields are marked *

x