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The opening Capital of a concern is Rs.30000/-
owner withdral for personal use Rs.28000/-
Closing capital balance of concern is Rs.37000/-
choose the correct answer from the following.
1.Net Loss Rs.14000/-
2.Net Profit Rs.35000/-
3.Net profit Rs.14000/-
4.Net Loss Rs.35000/-
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Answer Posted / saikiran
captial at the end of the year xxx
Add:Drawings made during the year xxx
less: Further capital introduced xxx
less: Capital at the begining of
the year. xxx
profit/loss during the year
37000+28000-30000=35000 profit.
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