Question

on 31 st December 2003 the total assets and liabilities were RS 100000 and RS 30000 respectively calculate capital​

Answer 1

Answer:

Solution:-

Closing capital = Closing Assets - Closing Liailities(i.e., y's Loan)

= ₹ 1,00,000 - ₹3,000 = ₹97,000.

Opening Capital =Closing Capital +Drawings -Additional Capital -Profits

= ₹ 97,000 + ₹6,000 - ₹ 10,000 - ₹ 10,000 = ₹ 83,000

Explanation:

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