1.
A commenced his cloth business on 1st April 2014 with a capital
of Rs.30,000. On 31st March 2015, his assets were worth Rs.50,000 and
liabilities of Rs.10,000. Find out his closing capital and profits earned
during the year.
2. Calculate the total assets if:
i. Capital is Rs.40,000.
ii. Creditors are Rs.25,000.
iii. Revenue during the period is Rs.50,000.
iv. Expenses during the period are Rs.40,000
3. Mohan stared a business on 1st April 2014 with a capital of Rs.25,000 and a
loan of Rs.12,500 borrowed from Shyam. During 2014-15 he had introduced
additional capital of Rs.12,500 and had withdrew Rs.7,500 for personal use.
On 31st March 2015 his assets were Rs.75,000. Find out his capital as on
31st March,2015 and profit made or loss incurred during the year 2014 – 15.
4. On 31st March, 2015, the total assets and external liabilities
were Rs.2,00,000 and Rs.6,000 respectively. During the year, the proprietor
had introduced capital of Rs.20,000 and withdrawn Rs.12,000 for personal
use. He made a profit of Rs.20,000 during the year.
Calculate the capital as on 1st April, 2014.
5. A had a capital of Rs.75,000 on 1st April 2015. He had also goods
amounting to Rs.15,000 which he had purchased on credit and the payment
had not been made. Find out the value of the total assets of the business.
b. After a period of one month, he came to know that he had suffered a loss
of Rs.1,700. He withdrew Rs.800 for his personal use. Find out his capital
and assets of the business
