[ISC] Q 23, Q 24 Accounting Equation TS Grewal Class 11 (2026-27)
Solution of Question number 23 and 24 of Accounting Equation chapter TS Grewal class 11 ISC Board (2026-27)
Q. 23. 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 During 2021-22, he had introduced additional capital of ₹ 12,500 and had withdrawn ₹ 7,500 for personal use.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:-
Q. 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 During the year, he earned a profit of ₹ 1,50,000, introduced an additional capital of ₹ 1,80,000 and had withdrawn ₹ 90,000 for his personal use.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
