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Nidhi started her business with capital of Rs.45,000 on 1st January, 2011. Interest on drawings Rs.5,000 and interest on capital Rs.2,000 were appearing in the Profit and Loss A/c for the year ended 31st December, 2011. Nidhi withdrew Rs.14,000 during the year and profit earned during the year amounted to Rs.15,000.  Her capital on 31st December, 2011 is
  • a)
    Rs. 67,000
  • b)
    Rs. 47,000
  • c)
    Rs.45,000
  • d)
    Rs. 43,000
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Nidhi started her business with capital of Rs.45,000 on 1st January, 2...
Calculation of Capital on 31st December 2011:

Opening Capital (1st January 2011) = Rs. 45,000

Add: Interest on Capital = Rs. 2,000

Less: Drawings = Rs. 14,000

Add: Profit for the year = Rs. 15,000

Add: Interest on Drawings = Rs. 5,000

Net Capital on 31st December 2011 = Rs. 43,000

Therefore, the correct answer is option D, Rs. 43,000.
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Nidhi started her business with capital of Rs.45,000 on 1st January, 2011. Interest on drawings Rs.5,000 and interest on capital Rs.2,000 were appearing in the Profit and Loss A/c for the year ended 31st December, 2011. Nidhi withdrew Rs.14,000 during the year and profit earned during the year amounted to Rs.15,000. Her capital on 31st December, 2011 isa)Rs. 67,000b)Rs. 47,000c)Rs.45,000d)Rs. 43,000Correct answer is option 'D'. Can you explain this answer?
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Nidhi started her business with capital of Rs.45,000 on 1st January, 2011. Interest on drawings Rs.5,000 and interest on capital Rs.2,000 were appearing in the Profit and Loss A/c for the year ended 31st December, 2011. Nidhi withdrew Rs.14,000 during the year and profit earned during the year amounted to Rs.15,000. Her capital on 31st December, 2011 isa)Rs. 67,000b)Rs. 47,000c)Rs.45,000d)Rs. 43,000Correct answer is option 'D'. Can you explain this answer? for CA CPT 2025 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about Nidhi started her business with capital of Rs.45,000 on 1st January, 2011. Interest on drawings Rs.5,000 and interest on capital Rs.2,000 were appearing in the Profit and Loss A/c for the year ended 31st December, 2011. Nidhi withdrew Rs.14,000 during the year and profit earned during the year amounted to Rs.15,000. Her capital on 31st December, 2011 isa)Rs. 67,000b)Rs. 47,000c)Rs.45,000d)Rs. 43,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA CPT 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Nidhi started her business with capital of Rs.45,000 on 1st January, 2011. Interest on drawings Rs.5,000 and interest on capital Rs.2,000 were appearing in the Profit and Loss A/c for the year ended 31st December, 2011. Nidhi withdrew Rs.14,000 during the year and profit earned during the year amounted to Rs.15,000. Her capital on 31st December, 2011 isa)Rs. 67,000b)Rs. 47,000c)Rs.45,000d)Rs. 43,000Correct answer is option 'D'. Can you explain this answer?.
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