Question

X commerced business on 1st April 2013 with a capital of rupees 600,000. on 31st March 2014 his assets were worth rupees 800000 and liabilities rupess 50,000. Find out his closing capital
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Answer 1

Answer:

closing capital = Assets - liabilities

= 800000-50000

=750000

Answer 2

closing capital = assets - liabilities

closing capital = (600000 + 800000) - 50000

closing capital = 1400000 - 50000

closing capital = 1350000

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