Following are the balances in trial balance
Capital = 100,000
Drawings= 1000
additional information
Gross profit amounting to Rs 2000
Net profit amounting to Rs 8000
Interest on capital @10%
Calculate the final amount that appear on liability side of the balance sheet
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Explanation:
Liability. ₹
capital 1,00,000
add : interest on capital 10,000
net profit. 8000. 18,000
less: drawings. 1,000
1,19,000
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