# Question No 21 Chapter No 5 – T.S. Grewal 11 Class

Question No 21 Chapter No 5

Calculation of Total Assets, Opening and Closing Capital and Profit and loss

21. A commenced his cloth business on 1st April 2017 with a capital of Rs 30,000. On 31st March 2018, his assets were worth Rs 50,000 and Liabilities of Rs 10,000. Find out his closing capital and profits earned during the year.

### The solution of Question No 21 Chapter No 5: –

Opening Capital is given = 30,000

So, we have to find out Closing Capital

With the Help of Following Formula, we can find out this.

Closing Capital = Closing Assets – Closing Liabilities

Closing Capital = 50,000 – 10,000

Closing Capita = 40,000/-

To calculate the Profit or loss, we can use the following formula : –

Profit/Loss = Closing Capital – Opening Capital

Profit/Loss        = 40,000 – 30,000

Profit of the year = 10,000/-

#### Please also check out all questions of this chapter which is already solved shown as follow:

 “Question No 1 Chapter No 5 – T.S. Grewal 11 Class” “Question No 2 Chapter No 5 – T.S. Grewal 11 Class” “Question No 3 Chapter No 5 – T.S. Grewal 11 Class” “Question No 4 Chapter No 5 – T.S. Grewal 11 Class” “Question No 5 Chapter No 5 – T.S. Grewal 11 Class” “Question No 6 Chapter No 5 – T.S. Grewal 11 Class” “Question No 7 Chapter No 5 – T.S. Grewal 11 Class” “Question No 8 Chapter No 5 – T.S. Grewal 11 Class” “Question No 9 Chapter No 5 – T.S. Grewal 11 Class” “Question No 10 Chapter No 5 – T.S. Grewal 11 Class” “Question No 11 Chapter No 5 – T.S. Grewal 11 Class” “Question No 12 Chapter No 5 – T.S. Grewal 11 Class” “Question No 13 Chapter No 5 – T.S. Grewal 11 Class” “Question No 14 Chapter No 5 – T.S. Grewal 11 Class” “Question No 15 Chapter No 5 – T.S. Grewal 11 Class” “Question No 16 Chapter No 5 – T.S. Grewal 11 Class” “Question No 17 Chapter No 5 – T.S. Grewal 11 Class” “Question No 18 Chapter No 5 – T.S. Grewal 11 Class” “Question No 19 Chapter No 5 – T.S. Grewal 11 Class” “Question No 20 Chapter No 5 – T.S. Grewal 11 Class”