find out closing capital and profit earned during the year when opening capital of a firm 58000 and total assestat the end werw78000and the totAl liabilities were 15000
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Answer:
closing capital = 63000,Profit =5000
Explanation:
Closing capital =Assests - Liabilities
=78000 - 15000
=63000
Profit =Closing capital - Opening capital
=63000- 58000
= 5000
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