On 1/4/2011 capital ofrs. 500000 and A loan of rs. 100000 borrowed from citi bank . On 31/3/12, his assets were 800000.Calculate his closing capital and profit
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Given :
Opening capital = 500000
Bank Loan on 31/3/12 = 100000
asset on 31/3/12 =800000
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soln :
closing capital = asset - liabilities
= 800000-100000
=700000
Closing capital = 700000
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closing capital = opening capital + profit
700000=500000+profit
profit = 700000-500000
=200000
Profit =2,00,000
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