Question

13. If the opening capital is $80,000.closing capital is
F 180.000 withdraways are 2 10,000 and additional
ropital brought in the business is £20,000 then the
profit will be
A] 290.000 BJ 2110,000 310,000 Oj+1,50,000​

Answer 1

CLOSING CAPITAL = OPENING CAPITAL +PROFITS +ADDITIONAL CAPITAL (-) WITHDRAWINGS(-)LOSS

SO

180000=80000+20000-210000+PROFIT

180000=(-)110000 + PROFIT

PROFIT = A. 290000

SO SIMPLE