If total assets of a business are ₹ 1,30,000 and net worth is ₹ 80,000, calculate the creditors.
[Hint: Net Worth = Assets - Liabilities]
[Hint: Net Worth = Assets - Liabilities]
Download our app for free and get started
Creditors = Total Assets - Net worth= 1,30,000 - 80,000
= ₹ 50,000
= ₹ 50,000
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionWhat is Ledger?
- 2View SolutionWhat is Compound Journal Entry?
- 3View SolutionRavi purchased on credit goods for ₹ 5,00,000 Less 20% Trade Discount. As per the terms, he can deduct 4% Cash Discount if he pays the full amount within 15 days. What amount he will have to pay to avail the Cash Discount?
- 4View SolutionWhat are Real Accounts?
- 5View SolutionIndicate how Accounting Equation is affected if machinery is purchased for cash?
- 6View SolutionWhat does a Credit Balance in a Capital Account signify?
- 7View SolutionWhy transactions are recorded on the basis of source documents?
- 8View SolutionGive a specimen of an account.
- 9View SolutionGive two basic purposes of accounting equation.
- 10View SolutionRent is paid by cheque. Which account will be credited and why?