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Krish started a business on 1st …

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Krish started a business on 1st July 2020 with a capital of Rs.4,00,000 and a bank loan of Rs.1,00,000. On 1st December 2020 he introduced additional capital of Rs.80,000. His drawings at the end of the year were Rs.10,000. Profit earned by the firm disclosed on 31st March 2021 was Rs.38,000. Total Assets of the firm on 31st March 2021 were: (a) 6,08,000 (b) 5,08,000 (c) 6,00,000 (d) 5,98,000

Posted by Suryakanta Mandal 4 years, 2 months ago

CBSE > Class 11 > Accountancy

3 answers

Aman Gupta 4 years, 2 months ago

By accounting equation , it should be a)6,08,000

Ayush Jha 4 years, 2 months ago

I think all options are wrong Correct answer is 4,08,000

Krish Limbu 4 years, 2 months ago

6,08,000

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