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3 years ago

A company had beginning assets and liabilities were Rs. 100,000 and Rs. 50,000 respectively.

Business

1 answer:

elena-14-01-66 [18.8K]3 years ago

7 0

Answer: Rs. 120,000

Explanation:

At the end of the year, both assets and liabilities had doubled. New asset and liability figures are therefore:

Assets = Rs. 200,000

Liabilities = Rs. 100,000

Net income is part of equity and as there is no equity, net income must be the entire equity.

Assets = Equity + Liabilities

200,000 = Equity + 100,000

Equity = 200,000 - 100,000

= Rs. 100,000

From this Net income, dividends were distributed to the tune of Rs. 20,000. This should be added back to see the full figure.

= 100,000 + 20,000

= Rs. 120,000

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