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If opening capitals of partners are A Rs. 3,00,000, B Rs. 2,00,000 and C Rs. 1,00,000 and their drawings during the year are A Rs. 50,000, B Rs. 40,000 and C Rs. 30,000 and creditors are Rs. 60,000, what will be the amount of assets of the firm?

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

Rs. 5,40,000       







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Previous PostIf creditors are Rs. 25,000, capital is Rs. 1,50,000 and cash balance is Rs. 10,000, what will be the amount of sundry assets?
Next PostIf total assets of a firm are Rs. 12,00,000 and total liabilities are Rs. 2,40,000, what will the capitals of P, Q and R if they share profits in the ratio of their capitals and profit-sharing ratio is 1: 2: 3.

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