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.
The solution of Question No 20 Chapter No 5: –
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
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