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Prepare capital account of Ram in T-shape and balance it from the following transactions: 20,000 and goods 30,000 10,000 (0) Commenced business with cash (i) Drawing during year 7,000 (iii) Additional capital introduced (o) Loss during year 4,000?
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Prepare capital account of Ram in T-shape and balance it from the foll...
Capital Account of Ram

Opening Balance: Nil

  • Commenced business with cash: 20,000

  • Received goods: 30,000

  • Additional capital introduced: 10,000


  • Total Capital: 60,000

  • Drawings during the year: 7,000

  • Loss during the year: 4,000


  • Closing Balance: 49,000

    Explanation:

    Ram commenced business with cash of 20,000 and received goods worth 30,000. This increased his capital by a total of 50,000. Later, he introduced additional capital of 10,000, which increased his capital to 60,000.

    During the year, Ram made a drawing of 7,000 from his capital, which decreased his capital to 53,000. Additionally, he incurred a loss of 4,000, which further decreased his capital to 49,000.

    Therefore, the closing balance of Ram's capital account is 49,000.
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    Prepare capital account of Ram in T-shape and balance it from the following transactions: 20,000 and goods 30,000 10,000 (0) Commenced business with cash (i) Drawing during year 7,000 (iii) Additional capital introduced (o) Loss during year 4,000?
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    Prepare capital account of Ram in T-shape and balance it from the following transactions: 20,000 and goods 30,000 10,000 (0) Commenced business with cash (i) Drawing during year 7,000 (iii) Additional capital introduced (o) Loss during year 4,000? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Prepare capital account of Ram in T-shape and balance it from the following transactions: 20,000 and goods 30,000 10,000 (0) Commenced business with cash (i) Drawing during year 7,000 (iii) Additional capital introduced (o) Loss during year 4,000? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Prepare capital account of Ram in T-shape and balance it from the following transactions: 20,000 and goods 30,000 10,000 (0) Commenced business with cash (i) Drawing during year 7,000 (iii) Additional capital introduced (o) Loss during year 4,000?.
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