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Under fluctuating capital method As capital is Rs 85000. During the year salary is Rs 12000 profit share is Rs 18000 and drawings are Rs 10000. What will be closing capital?

Answer and explanation

Correct answer: Rs 105000

Under fluctuating capital salary and profit are added and drawings are deducted. Rs 85000 plus Rs 30000 minus Rs 10000 equals Rs 105000.

Related tags

Fluctuating CapitalSalaryProfitDrawingsCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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