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2 years ago

Started business whit cash Rs 250000 and Machinery Rs 200000Accounting equation

Mathematics

2 answers:

oksano4ka [1.4K]2 years ago

7 0

$\huge\purple{Answer}$

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

--------------------

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.

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Rina8888 [55]2 years ago

7 0

Ya sorry but I have no idea

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3 years ago

Started business whit cash Rs 250000 and Machinery Rs 200000Accounting equation ​

Started business whit cash Rs 250000 and Machinery Rs 200000Accounting equation