# Question No 23 Chapter No 4 – USHA Publication 11 Class

Q-23 - CH-4 - USHA +1 Book 2020 - Solution

Question No 23 Chapter No 4

23. Rehman commenced business on 1st April 2018 with a capital of Rs 5,00,000. On 31st March 2019, his assets were worth Rs 4,50,000 and liabilities Rs 80,000. Find his closing capital and profit earned during the year.

## The solution of Question No 23 Chapter No 4: –

 Assets = Closing Capital + Liabilities ∴ Closing Capital = Assets – Liabilities = 4,50,000 – 80,000 Closing Capital = 3,70,000 Profit = Closing Capital – Opening Capital = 3,70,000 – 3,00,000 = 70,000

What is Accounting Equation | Example

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## Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors