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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question 6 Chapter 3 - Unimax Publications of Class 11
6. On 31st March, 2021 the total assets and external Liabilities were Rs. 3,00,000 and Rs. 9,000, respectively. During the year, the proprietor had introduced additional capital of Rs. 30,000 and had withdrawn Rs. 18,000 for personal use. He made a profit of Rs. 30,000 during the year. Calculate the capital as on 1 April, 2020.
| Closing Capital | =Closing Assets-Closing External Liabilities |
| = 3,00,000-9,000 | |
| = 2,91,000 | |
| Opening Capital | = Closing Capital + Drawing – Additional Capital - Profit |
| = 2,91,000+ 18,000 - 30,000 - 30,000 | |
| = 2,49,000 |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question 6 Chapter 3 - Unimax Publications of Class 11", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 11 - 2023.
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