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Question
After doing the adjustments regarding drawings ₹ 40,000, share of profit ₹ 24,000 and the additional capital introduced ₹ 32,000, the capital of Ashok, a partner, as on 31.03.2022, was ₹ 5,00,000. His capital as on 01.04.2021 was ______.
Options
₹ 4,84,000
₹ 5,16,000
₹ 4,46,000
₹ 5,96,000
MCQ
Fill in the Blanks
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Solution
After doing the adjustments regarding drawings ₹ 40,000, share of profit ₹ 24,000 and the additional capital introduced ₹ 32,000, the capital of Ashok, a partner, as on 31.03.2022, was ₹ 5,00,000. His capital as on 01.04.2021 was ₹ 4,84,000.
Explanation:
| Particulars | Amount (₹) |
| Closing Capital as on 31.03.2022 | 5,00,000 |
| Add: Drawings during the year | 40,000 |
| 5,40,000 | |
| Less: Share of Profit | 24,000 |
| Less: Additional Capital introduced | 32,000 |
| Opening Capital as on 01.04.2021 | 4,84,000 |
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