What is the standard form of the equation?
1 answer:
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In case there is no double entry system is followed, profit can be calculated by comparing the opening and closing capital. In the given situation this can be calculated as:
Opening Capital Rs.200000
Add: Capital Introduced Rs.200000
Add: Profit for the year Rs. 250000
Less: Loss for the year Rs.NIL
Less: Drawings Rs. 30000
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Capital at the end of the year Rs.620000
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Loan taken is a liability and loan given is asset, that will not affect the capital.
<h2>ƑƠԼԼƠƜ MЄ❤</h2>Hello and Good Morning/Afternoon:
<u>Let's take this problem step-by-step</u>:
<u>Let's consider all the information given</u>:
- Eddie's pension is based on the average of his last four year's salaries
2. The employer will pay 1.2% of that average for each year he worked
3. The employer will therefore pay in total
<u>Answer: $23520</u>
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Hope that helps!
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