Chapter 5 – Accounting Equations – TS Grewal 2022
Question 21
(a) A had a capital of 75000 on 1st April, 2021. He had also goods amounting to 15000 which he had purchased on credit and the payment had not been made. Find out the value of the total assets of the business.
(b) After a period of one month, he came to know that he had suffered a loss of 1700. He withdrew ₹800 for his personal use. Find out his capital and assets of the business.
Solution:
A had a capital of 75000
