Question
Closing capital = Rs 1,20,000. Shares issued during the year Rs 45,000. Drawings = Rs 10,000. Profit for the year = Rs 30,000 . What shall be the opening capital?
Answer: Option B
:
B
Opening capital= Closing capital - Shares issued + Drawings - Profit = Rs 55,000.
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:
B
Opening capital= Closing capital - Shares issued + Drawings - Profit = Rs 55,000.
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