Question

If opening capital is 2400; closing capital 40000; drawing 7000; fresh capital 8000.
Calculate profit or loss​

Answer 1

Answer:

The answer is in above attachment hope it helps you please make me as brainliest answer.

Answer 2

ANSWER :

• ❖ If opening capital is Rs. 2,400; closing capital Rs. 40,000; drawing Rs. 7,000; fresh capital Rs. 8,000; then the profit for the year will be Rs. 36,600.

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SOLUTION :

❒ Given :-

• Opening Capital = Rs. 2,400

• Closing Capital = Rs. 40,000

• Drawings = Rs. 7,000

• Fresh Capital = Rs. 8,000

❒ To Calculate :-

• Profit or Loss = ?

❒ Calculation :-

Here,

• Capital at the Beginning = Opening Capital = Rs. 2,400

• Capital at the End = Closing Capital = Rs. 40,000

• Drawings = Rs. 7,000

• Additional Capital Introducted = Fresh Capital = Rs. 8,000

Hence the statement of profit or loss will be :

• ✎ Capital at the End = Rs. 40,000

Add : Drawings = Rs. 7,000

• ✎ Total Amount = Rs. 47,000

Less : Additional Capital Introducted = Rs. 8,000

• ✎ Adjusted Capital at the End =Rs. 39,000

Less : Capital at the Beginning = Rs. 2,400

• ➲ Profit for the year = Rs. 36,600 ★