kavita started a business with capital 50000. she introduced additional captial of 25000 and withdrew 15000 for personal use. at the end of year her assests were 150000. find out her capital and loss or profit
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This question is incomplete.
Liabilities must be given maybe opening.
Then answer in these steps:
1) Opening liabilities will be taken as closing liabilities.
2) Find Closing capital =Closing Assets-Closing Liabilities
3)Profit = Closing Capital+ Drawings -additional capital-closing capital
Liabilities must be given maybe opening.
Then answer in these steps:
1) Opening liabilities will be taken as closing liabilities.
2) Find Closing capital =Closing Assets-Closing Liabilities
3)Profit = Closing Capital+ Drawings -additional capital-closing capital
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