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Under fluctuating capital method opening capital is Rs 70000 profit share Rs 15000 and drawings Rs 9000. What is closing capital?

Answer and explanation

Correct answer: Rs 76000

Under fluctuating capital profit is added and drawings are deducted. Rs 70000 plus Rs 15000 minus Rs 9000 equals Rs 76000.

Related tags

Fluctuating CapitalClosing CapitalAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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