To ascertain the real profit, the difference between the closing capital and opening capital is adjusted by:

Related MCQs

• If Building (closing) Rs.100,000, Land (opening) Rs. 100,000, Creditors (opening) Rs.10,000 then opening capital:
• 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.
• If opening capital is Rs.10,000 & closing capital is Rs.15,000 then profit or loss:
• Opening Debtors, Collection from Debtors and Discount Allowed were `3,15,000; `18,30,000 and `35,000 respectively. If the closing debtors were 20% of credit sales of the period then closing debtors and credit sales would be
• If average inventory is `1,25,000 and closing inventory is `10,000 less than opening inventory then the value of closing inventory will be
• Opening Stock ` 15,000, Closing Stock ` 6,000, Total Purchase during the year ` 30,000. Given that Opening Stock inadvertently includes postage stamps of ` 1,500. Find the cost of goods sold
• From the following details ascertain the adjusted Bank balance as per Cash Book — Overdraft as per Cash Book ` 80,000; Cheque received entered twice in the Cash Book ` 5,000; Credit side of bank column cast short by ` 500; Bank charges amounting to ` 200 entered twice; Cheque issued but dishonoured ` 2,000
• When closing capital is less than opening capital, it denotes
• When closing capital is more than opening capital it means