Question

capital and profits earned during the year.
24. Parveen
and a loan of
23 Rehman commenced buainess on Ist April, 2018 with a capital of 3,00,000. On 31st
March, 2019, his assets were worth 4.50,000 and liabilities 80.000. Find out his closing​

Answer 1

Answer:

closing capital=80000

Explanation:

closing capital=opening capital+profit

closing capital=60000+profit

assest=clpsing capital+liability

100000=(60000+profit)+20000

100000=80000+profit

profit=100000-800000

profit=20000

closing capital=60000+20000=80000