Accountancy, asked by swathimmrec, 1 month ago

on 31/03/2014 the total assets and external liabilities were 300000 and 12000 respectively. venkat introduced rs. 50000 as additional capital and with drawn rs.15000 for family purpose. venkat earned a profit of rs.40,000 during the year. calculate venkat capital as on 01/04/2013.​

Answers

Answered by sangeeta9470
0

Answer:

closing capital = Assets - liabilities

= 300000-12000

= 288000

Additional capital = 50000

drawing = 15000

Profit = 40000

opening capital ?

Profit = closing capital + drawing - additional capital - opening capital

40000 = 288000 + 15000 - 50000 - opening capital

opening capital = 288000. +15000-50000-40000

. = 213000

Answered by Sauron
3

Explanation:

Solution :

On 31/03/2014 the total assets and external liabilities were 3,00,000 and 12,000 respectively.

Closing Capital = total assets - liabilities

= 3,00,000 - 12,000

= 2,88,000

Closing Capital = 2,88,000

Particulars ------------------ Amount (₹)

Capitals On 31/03/2014 ---- 2,88,000

(+) Drawing ------------------------ 15,000

3,03,000

(-) Additional Capital ----------- 50,000

2,53,000

(-) Profit during the year ----- 40,000

Capital as on 01/04/2013 = 2,13,000

∴ Capital as on 01/04/2013 = ₹ 2,13,000

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