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
A) Rs.1,500
B) Rs.2,500
C) Rs.2,000
D) Rs.3,000
Correct Answer:
Verified
Q2: If the opening capital is Rs.20,000 and
Q3: Under single entry system, certain transactions are
Q4: Under single entry system details of
A)Expenses will
Q5: Under single entry system, only personal accounts
Q6: Statement of affairs is prepared for ascertaining:
A)Financial
Q7: From incomplete records, it is possible to
Q8: Single entry can be adopted by :
A)Small
Q9: The amount of credit sale is ascertained
Q10: The capital at the beginning of the
Q11: Single entry book-keeping means
A)Incomplete records
B)Loose and defective
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents