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

Question No.21 - Chapter No.5- T.S. Grewal +1 Book 2019

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”

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T.S. Grewals Double Entry Book Keeping - Question No 21 Chapter No 5 - T.S. Grewal 11 Class
T.S. Grewal’s Double Entry Book Keeping

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