Question No 23 Chapter No 5 – T.S. Grewal 11 Class

Question No 23 Chapter No 5

23. Calculate the total assets if:

• Capital is Rs 40,000.
• Creditors are Rs 25,000.
• Revenue during the period is Rs 50,000.
• Expenses during the period are Rs 40,000.

The solution of Question No 23 Chapter No 5: –

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Opening Capital is given = 40,000

Total liability is also given = 25,000

Revenue earned During the Year is given = 50,000

Expenses incurred during the year is given = 40,000

So, Closing Capital/Total Capital can be calculated with the following formula

Total/Closing Capital = Opening capital + Revenue – Expenses

Total/Closing Capital = 40,000 + 50,000 – 40,000

Total/Closing Capital = 50,000/-

So, we can find out total Assets

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

Total Assets = Total/closing Capital + Total Liabilities

Total Assets = 50,000 + 25,000

Total Assets = 75,000/-

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