commenced business with capital Rs 90000 and a loan Rs 30000,he introduced additional capital of 15000 and withdrawn 7000 for his personal use. he earned a profit of Rs 18000 calculate the capital and total assets
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Answered by
1
Answer:
pre journal entries you get answer
Answered by
5
Answer:
Total Asset - 146000 Capital -116000
Explanation:
Total Asset - capital+loan+additional capital+profit of the year-drawings
(90000+30000+15000+18000-7000=146000)
Capital- Total Asset-Loan
(146000-30000=116000)
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