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Under fluctuating capital method opening capital is Rs 110000 profit share Rs 30000 salary Rs 12000 and drawings Rs 26000. What is closing capital?

Answer and explanation

Correct answer: Rs 126000

Profit and salary are added and drawings are deducted. Rs 110000 plus Rs 42000 minus Rs 26000 equals Rs 126000.

Related tags

Fluctuating CapitalClosing CapitalAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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