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The position of a businessman on 30th J...

The position of a businessman on 30th June 1994 was as follows : - Cash Rs. 5,000, Debtors Rs. 20,000, Machinery Rs. 60,000, Stock Rs. 25,000, Capital Rs. 75,000. Calculate his liabilities.

Text Solution

Verified by Experts

The correct Answer is:
Rs. 35,000.
Liabilities = Assets - Capital
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