Question
A car worth Rs 80,000 was brought into the business by Minesh during the year. Also, Rs 20,000 was withdrawn during the year. If Closing capital is Rs 1,00,000, what shall be the opening capital?
Answer: Option C
:
C
Opening Capital = Closing Capital - Additional Capital + Drawings
= 1,00,000-80,000+20,000
= 40,000
Was this answer helpful ?
:
C
Opening Capital = Closing Capital - Additional Capital + Drawings
= 1,00,000-80,000+20,000
= 40,000
Was this answer helpful ?
More Questions on This Topic :
Question 1. Opening inventory + Net purchases =....
Question 8. Credit sales can be obtained by preparing:....
Latest Videos
Latest Test Papers
Submit Solution