Mohan started a business on 1st April 2017 with a capital of rs 10000 comma and borrowed rupees 3000 from a friend. He earned a profit of rs 5000 rupees during the year ended 31st March 2018 and withdraw cash 4004 private use. what is the capital on 31st March 2018
zoya1131:
additive inverse of -25 is ?
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Answers
Answered by
53
Answer is in the attachment .
Check it dear.
Attachments:
closing capital = opening capital + drawings - profit - additional capital + loss (if any )
sorry drawing hoga
how come correct answer is 10006 . did u gave all details correct
hmmm thanx for answering my question
change ur mistake . formula is wrong
ohk
no formula is correct
on you formula answer will not come
Answered by
57
Given
Opening capital = 10000
Loan = 3000
profit = 5000
Drawings 4004
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Closing capital = opening capital - drawings + profit
= 10000 - 4004 + 5000
= 10996
Closing capital = 10996
subtract the drawing
its ok
mine s wrong . i only gave wrong formula . now i have edited
look i explain clearly now . basic formula for closing capital = opening capital + profit + additional capital (if any) - drawings - loss(if any )
yes this is correct formula but both same
can you explain why the Drawing Add Not subtract
logis is we need to add money brought by partner to the company and subtract money withdrawn by partner from company and profit during the year will get a share of profit to the partners which should be added to opening capital . i guess no i haven't confused u . do u got it , if not i give better explanation
oh nice
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