If capital at the end of the year is ₹7,000, capital introduced during the year is ₹5,000, drawings during the year are ₹8,000, loss incurred during the year is ₹10,000, then capital in the beginning would be equal to—
CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · June 2013
If capital at the end of the year is ₹7,000, capital introduced during the year is ₹5,000, drawings during the year are ₹8,000, loss incurred during the year is ₹10,000, then capital in the beginning would be equal to—
Answer & Explanation:
Correct Answer: Option (C)
Correct answer: (C) ₹20,000. Opening capital = 7,000 − 5,000 + 8,000 + 10,000 = 20,000.
Topics: Fundamentals of Accounting
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