what is the equation for find opening capital in +1 accountancy
Answers
Answered by
0
Formulas for calculating Opening capital
opening capital = closing capital + drawings+loss for the year - profit for the year - additional capital .
(or )
Opening capital = cost of goods sold - purchases - closing stock
Hope its useful ..!!
Answered by
0
The Equation for Opening Capital=
Closing Capital
+ Drawings made
+Net Loss incurred during the year
- Net Profit made during the year
- Additional Capital Introduced during the year
= Opening Capital....
In the same way......
Cost of Goods Sold
- Purchases
- Closing Stock
= Opening Capital
Closing Capital
+ Drawings made
+Net Loss incurred during the year
- Net Profit made during the year
- Additional Capital Introduced during the year
= Opening Capital....
In the same way......
Cost of Goods Sold
- Purchases
- Closing Stock
= Opening Capital
Similar questions