At the beginning of the year. XYZ company had total assets of Tk. 50,000 and total liability of Tk. 30,000. During the year the asset increased by Tk. 15,000 and the liability decreased by Tk. 8,000. What is the amount of Owner's Equity?
Answer: C) Tk. 43000
- A) Tk. 27000
- B) Tk. 35000
- C) Tk. 43000
- D) Tk. 50000
Explanation
Tk. 43,000. Year-end assets = 50,000 + 15,000 = Tk. 65,000. Year-end liabilities = 30,000 − 8,000 = Tk. 22,000. Owner's equity = Assets − Liabilities = 65,000 − 22,000 = Tk. 43,000.
Asked in: TGTDCL 2021