25. Calculate the amount of External Equities as on 31st March, 2024 in the following cases:
(i) On 31st March, 2024, total assets and capital were ₹15,00,000 and ₹10,50,000 respectively.
(ii) On 1st April, 2023, Mukesh started business with a capital of ₹3,00,000 and a loan of ₹3,00,000 borrowed from a friend. During the year, he earned profit of ₹1,50,000. On 31st March, 2024, total assets were ₹15,00,000.
(iii) On 1st April, 2023, Ramesh started business with a capital of ₹ 3,00,000 and a loan of ₹3,00,000 borrowed from a friend. During the year, he earned a profit of ₹ 1,50,000, introduced an additional capital of ₹1,80,000 and had withdrawn ₹90,000 for his personal use. On 31st March, 2024, total assets were ₹15,00,000.
T.S.Grewal/2024 Edition/Practical Problems/Q-25
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.