Chapter 5 – Accounting Equations – TS Grewal 2022
Question 23
On 31st March, 2022, the total assets and external liabilities were ₹2,00,000 and ₹6,000 respectively. During the year, the proprietor had introduced capital of ₹20,000 and withdrwan ₹12,000 for personal use. He made a profit of ₹20,000 during the year. Calculate the capital as on 1st April, 2021.
Solution:
On 31st March 2022 the total assets and external liabilities
