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A commenced his cloth business on …

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A commenced his cloth business on 1st april,2017 with a capital of rs30000.on 31st march,2017 his assets were rs50000 and liabilities were rs10000.Find out his closing capital and profit earned during the year.

    • Posted by Rahul Rawat 7 years, 6 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Elina Khan 7 years, 6 months ago

    Clo.cap.=clo.assets-clo.liab. =50000-10000=40000 and profit=clo.cap.-op.cap.=40000-30000=10000

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