[ISC] Q 17, Q 18 Accounting Equation TS Grewal Class 11 (2026-27)

Solution of Question number 17 and 18 of Accounting Equation chapter TS Grewal class 11 ISC Board (2026-27)

Q. 17. A commenced his cloth business on 1st April, 2021 with a capital of ₹ 30,000. On 31st March, 2022, his assets were worth ₹ 50,000 and liabilities of ₹ 10,000. Find out his closing capital and profits earned during the year.

[Capital ₹ 40,000; Profit ₹ 10,000.]

Solution:-

Q. 18. Calculate the total assets if:

(i) Capital is ₹ 40,000.

(ii) Creditors are ₹ 25,000.

(iii) Revenue during the period is ₹ 50,000.

(iv) Expenses during the period are ₹ 40,000.

[Total Assets = ₹ 75,000.]

Solution:-