Question

• If beginning capital was Rs.25,000,
ending capital is Rs.37,000, and the
owners withdrawals were Rs.23,000,
the Amount of net income or net loss
for the period was:​

Answer 1

Answer:

Computation of profit: Opening Capital($.25,000)+Net Profit-Withdraw($23000)=Ending Capital($37000), So, Net profit will be $35000

Answer 2

Answer:

Step-by-step explanation:

Ending capital = beginning capital + net income (loss)- withdrawals

Withdrawals + Net income

= $25,000 – $23,000 = $2,000

$37,000 - $ 2,000 = $ 35,000