Question

Calculate the total liability if: Owner’s capital at the beginning is ₹60,000. Creditors at the end is ₹50,000. Revenue during the period is ₹70,000. Expenses during the period are ₹65,000. Also, calculate the amount of owner’s capital at the end.

A Total Liability: ₹1,10,000; Owner’s Capital at the End: ₹60,000
B Total Liability: ₹1,05,000; Owner’s Capital at the End: ₹65,000
C Total Liability: ₹1,15,000; Owner’s Capital at the End: ₹65,000
D Total Liability: ₹1,20,000; Owner’s Capital at the End: ₹70,000
E Total Liability: ₹1,25,000; Owner’s Capital at the End: ₹60,000
Practice Next

Hey! Ask a query