Question

shyam started a business with a capital investment of 2000000 as on 1 april2010 on 15 April 2010 he took a loan of RS 500000 and invested this amount into the business on 1 may 2010 he introduced additional capital of RS 10000.He suffered a loss of RS 10000.cash withdrawn by businessman by RS 20000. calculate the amount of total assets and capital as an 31 March 2011

Answer 1

Given ,
opening capital = 20,00,000
loan =5,00,000
additional capital = 10000
loss=1000
drawings = 20000

closing capital = opening capital + additional capital -loss-drawings 
                         =20,00,000+10,000-1000-20,000
                           =1989000

asset = closing capital + liability 
           =1989000+5,00,000

             =24,89,000


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