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Bs closing capital is Rs 96000. Opening capital is Rs 80000 drawings Rs 12000 interest on capital Rs 4000 and additional capital Rs 6000. What was the profit share?

Answer and explanation

Correct answer: Rs 18000

After adding additional capital and interest to opening capital and deducting drawings the balance is Rs 78000. Profit of Rs 18000 is needed to reach closing capital.

Related tags

Missing ProfitCapital AccountReconciliationCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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