**Calculation of Liabilities**

To find out the amount of liabilities, we need to use the basic accounting equation:

Assets = Liabilities + Capital

Given that the total assets of the firm are ₹4,00,000 and the capital at the end of the accounting period is ₹3,00,000, we can rearrange the equation to solve for liabilities:

Liabilities = Assets - Capital

Substituting the given values:

Liabilities = ₹4,00,000 - ₹3,00,000

Liabilities = ₹1,00,000

Therefore, the amount of liabilities is ₹1,00,000.

**Explanation**

In accounting, liabilities represent the obligations or debts owed by a firm to external parties. These obligations arise from past transactions or events, and the firm is required to fulfill them in the future. Liabilities can include loans, accounts payable, accrued expenses, and other financial obligations.

The amount of liabilities is calculated by subtracting the capital of the firm from its total assets. This is based on the basic accounting equation, which states that the assets of a firm are equal to the sum of its liabilities and capital.

In this case, the total assets of the firm are ₹4,00,000 and the capital at the end of the accounting period is ₹3,00,000. By subtracting the capital from the total assets, we find that the amount of liabilities is ₹1,00,000.

This means that the firm has ₹1,00,000 in outstanding obligations to external parties. These liabilities represent the claims that creditors and other stakeholders have on the firm's assets. The firm is responsible for repaying or settling these obligations in the future.

It is important for a firm to accurately determine its liabilities as they affect the overall financial health and stability of the business. By knowing the amount of liabilities, the firm can assess its ability to meet its financial obligations and make informed decisions regarding its operations, investments, and financing.