Question

on 31st March 2012 the total assets and external liabilities were rs 2,00,000 and Rs 6,000 respectively during the year the proprietor had introduced additional capital of Rs 20,000 and had withdraw Rs 12,000 for personal use the made a profit of Rs 20,000 during the year calculate the capital as on 1st April 2013 ​

Answer 1

Answer:

Rs. 20,000

Explanation:

Capital as on 31st March,2018

Total assets as on 31st March,2018

External liabilities as on 31st March,2018

So,

2,00,000-6,000=1,94,000 rupees

Profit for the year:

Capital                     Rs.1,94,000

(-)Fresh Capital         Rs.20,000

                                Rs. 1,74,000

(+)Drawings              Rs.12,000

                             Rs.1,86,000

(-)Opening            Rs.1,66,000

capital

Profit                 Rs. 20,000