Q-1. If Total assets are Rs 4,00,000 and Net
Worth is Rs 1,20,000 and Profit Rs 25,000.Compute the creditors.
Q-2. (a) A starts a Business and invests Rs 50,000 on 1st
April 2017. On 31st March 2018 his Assets are Rs 65,000 and
Liabilities are Rs 6,000. Find out the amount of capital on 31st
march 2018.
(b) In the above case ,if the Proprietor had
introduced Rs 5,000 as additional capital and withdrawn Rs 2,000.What will be
your answer.
Q-3. X started a business on 1st
April 2017 with a Capital of Rs 50,000 and a loan of Rs 25,000 borrowed from Y.
During 2017-18,he had introduced additional capital of Rs 25,000 and had withdrawn
Rs 15,000 for personal use. On 31st March 2018 his assets were Rs
1,50,000.Find out his capital as on 31st March 2018 and profit made
or loss incurred during the year 2017-18.
Q-4. On 31st March 2018 the total
Assets and External Liabilities were Rs 1,00,000 and Rs 3,000 respectively .
During the Year ,the proprietor had introduced additional capital of Rs 10,000
and had withdrawn Rs 6,000 for Personal use. He made a Profit of Rs 10,000
during the year . Calculate the Capital as on 1st April 2017.
Q-5. Show an Accounting Equation on the
Basis of the Following transactions :
I. Vikram Kapoor Started business
with cash Rs 1,50,000 and Furniture Rs 1,00,000 and Goods Rs 50,000 and Cheque
Rs 40,000.
II. He Purchased a Building for Rs
1,00,000 and Sold Furniture Rs 90,000(Costing Rs 1,00,000 ).
III. He Purchased Goods from Ram Rs
45,000.
IV. Paid Cartage Rs 5,000 and Rent
Paid to Landlord Rs 4,000.
V. Received Rent from tenants Rs
5,000 and Received Security Deposits From Tenants Rs 4K.
VI. Invested in Shares ( Personal )
Rs 5,000.
VII. Goods Destroyed by Fire Rs 5,000.
VIII. Introduced Fresh Capital Rs
20,000.
Also,Prepare a Balanced Sheet.
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