Question

(1) Capital Comparison Method or Statement of Affairs Method
Ascertainment of Profit
1. From the following informations, calculate profit or loss :
Opening Capital
Drawings during the year
Additions to the Capital
Closing Capital
(Ans. Profit 14,250]
17,000
3,000
750
29,000​

Answer 1

Answer:

closing capital = 29000

(+) drawings = 3000

(-) additional capital 750

(-) ,opening capital. 17000

profit =. 14250