Advertisements
Advertisements
Question
Select the most appropriate answer the alternatives given below and rewrite the Sentence.
If Opening Capital is Rs 40,000, Closing Capital is 90,000 Rs, Withdrawals is Rs 5,000 and additional Capital brought in is Rs 10,000 Profit is Rs ______________.
Options
45,000
55,000
35,000
75,000
Solution
If Opening Capital is Rs 40,000, Closing Capital is Rs 90,000, Withdrawals is Rs 5,000 and additional Capital brought in is Rs 10,000 Profit is Rs 45,000.
Explanation: Closing Capital = Opening Capital + Profit – Withdrawals + Additional Capital Introduced
Putting the respective values, we get:
90,000 = 40,000 + profit – 5,000 + 10,000
Profit = 90,000 – 45000 = 45,000.
APPEARS IN
RELATED QUESTIONS
Under Single Entry System, additional capital brought in during the year is _____ closing capital in order to calculate profit.
Answer in one sentence only.
How is the closing capital calculated under Single Entry System?
Select the most appropriate answer the alternatives given below and rewrite the Sentence
Further capital introduced during the year is _______________ from closing capital in order to find-out the correct profit.
Select the most appropriate answer the alternatives given below and rewrite the Sentence
In statement of profit or loss interest on Capital in shown as _____________.
