Profit under the net worth method, when there are no drawings and no additional capital is the difference between:

Related MCQs

• If opening capital is Rs.5,000; closing capital - Rs.7,000; drawings - Rs.1,000 and additional capital introduced during the year is Rs.500; then, the amount of profit made would amounted to
• If the opening capital is Rs.20,000 and closing capital is Rs.25,000; drawings made amounted to Rs.1,800; then, the amount of Rs.________ must be introduced as an additional capital during the year in order to earn a profit of Rs.2,800.
• In the case of net worth method of single entry system, the net profit is ascertained by
• In the case of net worth method of single entry system, the net profit is ascertained by
• A B C are three partners sharing profit and loss in the ration of 2:2:1, B recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of ` 60,000. Find the share of profit of B if the firm made a net profit of ` 1,25,000 during 2012-13
• Under the net worth method, the profit can be ascertained by preparing
• From the following details estimate the capital as on 31.03.2017. Capital as on 01.04.2016 - `4,10,000. Drawings `40,000, Profit during the year ` 50,000
• Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation
• To ascertain the real profit, the difference between the closing capital and opening capital is adjusted by:
• Under single entry system , drawings is _____ to know gross profit