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Under fluctuating capital method As opening capital is Rs 60000 profit share is Rs 12000 and drawings are Rs 5000. What will be closing capital?

Answer and explanation

Correct answer: Rs 67000

Under fluctuating capital profit is added and drawings are deducted. So Rs 60000 plus Rs 12000 minus Rs 5000 gives Rs 67000.

Related tags

Fluctuating CapitalClosing CapitalNumericalCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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