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If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.?
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If the capital of a business is RS 3,00,000 and liabilities are RS 50,...
Calculation of Total Assets of a Business
To calculate the total assets of a business, we need to use the basic accounting equation which states that:
Assets = Capital + Liabilities
Now, let's use the given information to calculate the total assets of the business.
Given:
Capital = RS 3,00,000
Liabilities = RS 50,000
Loss = RS 70,000
Calculation:
From the given information, we can calculate the total assets of the business as follows:
Assets = Capital + Liabilities
Assets = RS 3,00,000 + RS 50,000
Assets = RS 3,50,000
But, we also need to consider the loss of RS 70,000 in the calculation of total assets. As the loss is subtracted from the capital, the actual capital of the business is reduced by the loss amount.
Therefore, the revised calculation of total assets is as follows:
Assets = (Capital - Loss) + Liabilities
Assets = (RS 3,00,000 - RS 70,000) + RS 50,000
Assets = RS 2,30,000 + RS 50,000
Assets = RS 2,80,000
Conclusion:
Hence, the total assets of the business are RS 2,80,000.
To calculate the total assets of a business, we need to use the basic accounting equation which states that:
Assets = Capital + Liabilities
Now, let's use the given information to calculate the total assets of the business.
Given:
Capital = RS 3,00,000
Liabilities = RS 50,000
Loss = RS 70,000
Calculation:
From the given information, we can calculate the total assets of the business as follows:
Assets = Capital + Liabilities
Assets = RS 3,00,000 + RS 50,000
Assets = RS 3,50,000
But, we also need to consider the loss of RS 70,000 in the calculation of total assets. As the loss is subtracted from the capital, the actual capital of the business is reduced by the loss amount.
Therefore, the revised calculation of total assets is as follows:
Assets = (Capital - Loss) + Liabilities
Assets = (RS 3,00,000 - RS 70,000) + RS 50,000
Assets = RS 2,30,000 + RS 50,000
Assets = RS 2,80,000
Conclusion:
Hence, the total assets of the business are RS 2,80,000.
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If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.?
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If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.?.
If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the capital of a business is RS 3,00,000 and liabilities are RS 50,000, loss RS 70,000, calculate the total assets of the business.?.
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