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

Practice Next
×
×