Question

Q.13. Munish commenced his business on 1st April2019 with a capital of
330,000. On 31st March 2020, his assets were worth 350,000 and the liabilities
of 10,000. Find out his closing capital and profits earned during the year. 1​

Answer 1

Answer:

Solution :

Total Assets = Capital + Liabilities

₹50,000 = Capital + ₹10,000

Closing Capital = ₹ 50,000 = Capital = ₹50,000 - ₹10,000= ₹40,000

Profit = Closing Capital - Opening Capital.

= ₹40,000 - ₹30,000 = ₹10,000.

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Answer 2

Answer:

Hi

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