A commenced his cloth business on 1st April, 2018 with a capital of Rs.30,000 . On 31st March 2019 , his assets were worth of Rs.50,000 and liabilities of Rs.10,000 . Find out his closing capital and profits earned during the year.
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During the year his closing capital is ₹ 40,000 and his profits earned is ₹ 10,000.
During the year his closing capital is ₹ 40,000 and his profits earned is ₹ 10,000.Given:
During the year his closing capital is ₹ 40,000 and his profits earned is ₹ 10,000.Given:A commenced his cloth business on 1st April, 2017 with a capital of ₹ 30,000. On 31st March 2018, his assets were worth ₹ 50,000 and liabilities of ₹ 10,000.
Now, to find out his closing capital and profits earned during the year.
On 31st March 2018,
On 31st March 2018,Assets = ₹ 50,000.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.Thus, Closing Capital is ₹ 40,000.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.Thus, Closing Capital is ₹ 40,000.Now, to get the profits earned by putting formula:
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.Thus, Closing Capital is ₹ 40,000.Now, to get the profits earned by putting formula:Profit = Closing Capital - Opening Capital.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.Thus, Closing Capital is ₹ 40,000.Now, to get the profits earned by putting formula:Profit = Closing Capital - Opening Capital.Profit=40000-30000
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.Thus, Closing Capital is ₹ 40,000.Now, to get the profits earned by putting formula:Profit = Closing Capital - Opening Capital.Profit=40000-30000Profit=10000.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.Thus, Closing Capital is ₹ 40,000.Now, to get the profits earned by putting formula:Profit = Closing Capital - Opening Capital.Profit=40000-30000Profit=10000.Hence, profit earned is ₹ 10,000.
On 31st March 2018,Assets = ₹ 50,000.Liabilities = ₹ 10,000.Opening Capital = ₹ 30,000.So, to get the Closing capital we put formula:Closing Capital = Assets - Liabilities.Closing\ Capital=50000-10000\Closing\ Capital=40000.Thus, Closing Capital is ₹ 40,000.Now, to get the profits earned by putting formula:Profit = Closing Capital - Opening Capital.Profit=40000-30000Profit=10000.Hence, profit earned is ₹ 10,000.Therefore, during the year his closing capital is ₹ 40,000 and his profits earned is ₹ 10,000.