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total assets 1,50,000 creditors for goods 90,000 creditors for expenses 15,000. find out capital from the following information
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total assets 1,50,000 creditors for goods 90,000 creditors for expense...
Calculation of Capital
To find out the capital from the given information, we need to use the accounting equation which is:
Assets = Liabilities + Capital
We are given the following information:
Total Assets = 1,50,000
Creditors for Goods = 90,000
Creditors for Expenses = 15,000
Using the above information, we can calculate the capital using the accounting equation as shown below:
Assets = Liabilities + Capital
1,50,000 = 90,000 + 15,000 + Capital
1,50,000 - 1,05,000 = Capital
45,000 = Capital
Therefore, the capital is Rs. 45,000.
Explanation
The accounting equation is the foundation of accounting and is used to keep track of all financial transactions. It states that the total assets of a company must always be equal to the sum of its liabilities and capital.
In this case, we are given the total assets of the company which is Rs. 1,50,000. We are also given the amount owed to creditors for goods and expenses which are Rs. 90,000 and Rs. 15,000 respectively.
Using the accounting equation, we can calculate the capital of the company by subtracting the total liabilities (creditors for goods and expenses) from the total assets. The remaining amount is the capital of the company which is Rs. 45,000.
In conclusion, the capital of the company is Rs. 45,000 which is calculated using the accounting equation.
To find out the capital from the given information, we need to use the accounting equation which is:
Assets = Liabilities + Capital
We are given the following information:
Total Assets = 1,50,000
Creditors for Goods = 90,000
Creditors for Expenses = 15,000
Using the above information, we can calculate the capital using the accounting equation as shown below:
Assets = Liabilities + Capital
1,50,000 = 90,000 + 15,000 + Capital
1,50,000 - 1,05,000 = Capital
45,000 = Capital
Therefore, the capital is Rs. 45,000.
Explanation
The accounting equation is the foundation of accounting and is used to keep track of all financial transactions. It states that the total assets of a company must always be equal to the sum of its liabilities and capital.
In this case, we are given the total assets of the company which is Rs. 1,50,000. We are also given the amount owed to creditors for goods and expenses which are Rs. 90,000 and Rs. 15,000 respectively.
Using the accounting equation, we can calculate the capital of the company by subtracting the total liabilities (creditors for goods and expenses) from the total assets. The remaining amount is the capital of the company which is Rs. 45,000.
In conclusion, the capital of the company is Rs. 45,000 which is calculated using the accounting equation.
Community Answer
total assets 1,50,000 creditors for goods 90,000 creditors for expense...
Capital=Assets- liabilities
Capital=150000-(90000+15000)
capital=150000-105000
capital=45000
Capital=150000-(90000+15000)
capital=150000-105000
capital=45000
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