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      Question

      Calculate the closing capital of an individual from the

      following information: ·       Initial capital in business – Rs.50000 ·       Loan taken from relatives – Rs.5000 ·       Profit for the year – Rs.10000 ·       Drawings – Rs.9000
      A Rs.41000 Correct Answer Incorrect Answer
      B Rs.60000 Correct Answer Incorrect Answer
      C Rs.65000 Correct Answer Incorrect Answer
      D Rs.51000 Correct Answer Incorrect Answer
      E Rs.56000 Correct Answer Incorrect Answer

      Solution

      Closing capital = initial capital + profits – drawings                              = 50000 +10000 – 9000                              = Rs.51000

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