Vinod commenced business on 1st April 2016 with capital of nine legs on 31st March 2017 as for what 12 legs and liabilities 75000 find out is closing capital
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Explanation:
capital = asset - liablities
=540000-10000
=530000
closing capital =opening capital + additional capital + profit - drawings
530000=200000+540000+profit -23000
530000=717000+profit
profit = 717000-530000
=187000
Ans Profit = 187000
closing capital = 530000
Hope its useful..!!!
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