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Under fluctuating capital method As opening capital is Rs 110000. He brought additional capital of Rs 30000 after six months salary is Rs 12000 profit share is Rs 21000 drawings are Rs 14000 and interest on drawings is Rs 1600. What is closing capital?

Answer and explanation

Correct answer: Rs 157400

Add all credit items and deduct debit items to find capital. Rs 110000 plus Rs 63000 minus Rs 15600 equals Rs 157400.

Related tags

Fluctuating CapitalClosing CapitalAdjustmentsCapital AccountsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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