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Vikas maintains his books of account on Single Entry System. He provides following information from his books. Find out additional capital introduced in the business during the year 2012-13. Opening Capital – Rs.1,30,000 Drawing during the year Rs.50,000 Closing Capital – Rs.2,00,000 Profit made during the year Rs.1,00,000 |
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Answer» Additional Capital = Capital at the End + Drawings – (Capital in the Beginning + Profit) = 2,00,000 + 50,000 – (1,30,000 + 1,00,000) = 2,50,000 – 2,30,000 = Rs.20,000 |
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