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Under fluctuating capital method opening capital is Rs 90000 profit share Rs 25000 salary Rs 10000 and drawings Rs 18000. What is closing capital?

Answer and explanation

Correct answer: Rs 107000

Profit and salary are added and drawings are deducted. Rs 90000 plus Rs 35000 minus Rs 18000 equals Rs 107000.

Related tags

Fluctuating CapitalClosing CapitalAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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