1.

Prepare a specimen of a promissory note.

Answer»

1. Capital =  Assets – Liabilities

Rs. 1,20,000 = Rs. 4,00,000 – Rs. 1,80,000

2. Assets = Liabilities + Capital

Rs. 3,30,000 = Rs. 1,50,000 + Rs. 1,80,000

3. Liabilities = Assets – Capital

Rs. 3,20,000 = Rs. 6,00,000 – Rs. 2,80,000.



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