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Under fluctuating capital method A opening capital is one lakh fifty thousand rupees. During the year additional capital is thirty thousand rupees share of profit is twenty two thousand rupees salary is twelve thousand rupees drawings are eighteen thousand rupees and interest on drawings is two thousand rupees. What is closing capital?

Answer and explanation

Correct answer: One lakh ninety four thousand rupees

Add capital additional capital profit and salary and deduct drawings and interest on drawings. Closing capital is one lakh ninety four thousand rupees.

Related tags

Fluctuating CapitalClosing CapitalNumericalCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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