Accounting from...

The difference between assets and liabilities is called as ___________.

The difference between capital at the end of year and capital at the beginning of year is called ____________.

The capital at the end of the accounting year is ascertained by preparing _______.

Profit can be ascertained from the incomplete records under single entry by using  ________.

A and B enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs. 10,000. He pays expenses amounting to Rs. 1,000. B incurs further expenses on carriage Rs. 1,000. He receives cash for sales Rs. 15,000. He also takes over goods to the value of Rs. 2,000. What will be the amount to be remitted by B to A?

From the following details estimate the capital as on 31.12.07, Capital as on 01.01.07 Rs. 205,000, Drawing Rs. 20,000, Profit during the year Rs. 25,000.

Kumar and Shanu-entered into a joint venture to purchase and sell new year gifts. They agreed to share the profit and losses equally. Kumar purchased goods worth Rs. 1,00,000 and spent' Rs. 10,000 in sending the goods to Shanu. He also paid Rs. 5,000 for insurance. Shanu spent Rs. 10,000 as selling expenses and sold goods for 2,00,000. Remaining goods Were taken over by him at Rs. 5,000. What will be the amount to be remitted by Shanu to Kumar as final settlement?

Find the total at assets at the end of the year if the net profit, drawing during the year and assets at the beginning of the year were 12,000, 7,000 and 15,000 respectively.

X had started business with $$Rs. 2,00,000$$ in the beginning of the year. During the year, he borrowed $$Rs. 1,00,000$$ from Y. He further introduced $$Rs. 2,00,000$$ in the business. He also gave $$Rs. 50,000$$ as loan to his son. Goods given away as charity by him were $$Rs. 20,000$$. Profits earned by him were $$Rs. 2,50,000$$. He also withdraw $$Rs. 30,000$$ from the business. His capital at the end of the year would be__________. 

The closing balance of owner's equity is $$Rs. 2,10,000$$. During the year, the owner contributed $$Rs. 60,000$$ and withdrew $$Rs. 40,000$$. If the firm had $$Rs. 80,000$$ net income for the year, what was the owner's equity at the beginning?