Question

opening capital 140000 profit for the year40000 drawings14000 during the yearproprietor sold ornamentsof his wife for 40000and invested the same in business calculate closing capital​

Answer 1

Hello..

formula to calculate closing capital:-

Opening Capital+ Additional Capital-Drawings + p&l = Closing Capital

Given :- O.C = 140000

+ Add. Capital =40000

- Drawings = (14000)

+ profit = 40000

________________________

Closing Capital =206000

hope it helps..

Answer 2

Explanation:

please help me with the format