A commenced business on 1st April 2011 with a Capital of 35,00,000. On 31s
March, 2012, his assets were worth *7,80,000 and liabilities 770,000. Find
out his closing capital and profit earned during the year.
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Explanation:
5,00,000+7,80, 000+70, 000
3
=5, 00,000+7, 80,000+70, 000
=11, 50,000
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