Question

X started business on 1st April 2016, with capital of 12000. During year he further divided 30000 but withdrew 25000. At end of year his assets were 200000 and laibilties were 30000
Find his closing capital and profit at end of year

Answer 1

Answer:

capital =12000

then it becomes 12000+30000=42000

then out of 42000 ,25000is withdrawed

that is 42000-25000=17000

capital = asset-liabilities

asset=200000 , liabilities=30000

then capital=200000-30000=170000