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 If owner’s equity of a business are Rs. 90,000 and profits are of Rs. 60,000 for the year calculate total assets of the business:-
  • a)
    Rs. 1, 50,000
  • b)
    Rs. 1, 20,000
  • c)
    Rs. 30,000
  • d)
    Rs. 1, 70,000
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
If owner’s equity of a business are Rs. 90,000 and profits are o...
As you know assets= liabilities
therefore,
assets will be calculated through liabilities
so, according to this question:
assets=owner's equity (liability) +profits(liability)
assets=90000+60000
assets=150000
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Community Answer
If owner’s equity of a business are Rs. 90,000 and profits are o...
If owner
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If owner’s equity of a business are Rs. 90,000 and profits are of Rs. 60,000 for the year calculate total assets of the business:-a)Rs. 1, 50,000b)Rs. 1, 20,000c)Rs. 30,000d)Rs. 1, 70,000Correct answer is option 'A'. Can you explain this answer?
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If owner’s equity of a business are Rs. 90,000 and profits are of Rs. 60,000 for the year calculate total assets of the business:-a)Rs. 1, 50,000b)Rs. 1, 20,000c)Rs. 30,000d)Rs. 1, 70,000Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If owner’s equity of a business are Rs. 90,000 and profits are of Rs. 60,000 for the year calculate total assets of the business:-a)Rs. 1, 50,000b)Rs. 1, 20,000c)Rs. 30,000d)Rs. 1, 70,000Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If owner’s equity of a business are Rs. 90,000 and profits are of Rs. 60,000 for the year calculate total assets of the business:-a)Rs. 1, 50,000b)Rs. 1, 20,000c)Rs. 30,000d)Rs. 1, 70,000Correct answer is option 'A'. Can you explain this answer?.
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