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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Question No 20 Chapter No 5
Calculation of Total Assets, Opening and Closing Capital and Profit and loss
20. If total assets of a business are Rs 1,30,000 and net worth is Rs 80,000. Calculate the creditors.
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To calculate the creditors or Liability, we can use the following formula : -
Net worth = Total Assets – Total Liabilities
Because the total assets and net worth are given.
Total Liabilities or Creditors = Total Assets – Net worth
Total Liabilities = 1,30,000 – 80,000
Creditors 50,000/-
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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 No 20 Chapter No 5 - T.S. Grewal 11 Class", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to T.S. Grewal 11 Class Financial Accounting.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
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