From the following information, calculate Current Assets: Debtors ₹ 60,000, Creditors ₹ 30,000, Bills payable ₹ 20,000, Stock ₹ 30,000, Loose tools ₹ 10,000, Bank overdraft ₹ 10,000.

Question

From the following information, calculate Current Assets:

Debtors ₹ 60,000, Creditors ₹ 30,000, Bills payable ₹ 20,000, Stock ₹ 30,000, Loose tools ₹ 10,000, Bank overdraft ₹ 10,000.

Sum

Solution

current assets = Debtors + stock + Loose tools

= 60,000 + 30,000 + 10,000

= 1,00,000

∴ Current assets = ₹ 1,00,000

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Partnership Final Accounts

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Trial Balance as on 31^st March, 2012

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