The position of a businessman on 30th June 1994 was as follows :
Cash ₹ 5,000; Debtors ₹ 20,000; Machinery ₹ 60,000; Stock ₹ 25,000; Capital ₹ 75,000. Calculate his liabilities.
Cash ₹ 5,000; Debtors ₹ 20,000; Machinery ₹ 60,000; Stock ₹ 25,000; Capital ₹ 75,000. Calculate his liabilities.
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Liabilities = Assets - Capital
Liabilities = (5000 + 20000 + 60000 + 25000) - 75000
= 35,000.
Liabilities = (5000 + 20000 + 60000 + 25000) - 75000
= 35,000.
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