Divyanshu started business on 1st April, 2019 with a capital of 20,00,000 and
a loan of 4,00,000 borrowed from Punjab National Bank. On 31st March, 2020;
his assets were 4,00,000.
You have to calculate his closing capital and profit earned/loss suffered during
the year.
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Answer:
Closing Capital= Assets- Liabilities(at the end of the year)
Closing Capital=4,00,000-4,00,000
= 0
Profit/Loss=0-2000000
Loss= 2000000
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