Question

Geeta commenced business on 1st April 2015 with a capital
Rs. 100000. On 31st March, 2016 her assets worth Rs. 195000
and liabilities of Rs. 70000. Find her capital at the end of the
year and profit earned during the year

Answer 1

Answer:

Closing Capital = 1,25,000 & Profit Earned is 25,000

Explanation:

Closing Capital = Closing Assets - Closing liabilities

Closing capital  = 195000 - 70000

                          = 1,25,000

Profit Earned = Closing capital - Opening Capital

                      = 1,25,000 - 1,00,000

                      =  25,000

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Answer 2

Answer:

Explanation:

Geeta commenced business on 1st April 2015 with a capital

Rs. 100000. On 31st March, 2016 her assets worth Rs. 195000

and liabilities of Rs. 70000. Find her capital at the end of the

year and profit earned during the year