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Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :
- a)Rs. 15,000 profit
- b)Rs. 5000 Loss
- c)Rs. 20,000 Profit
- d)Can’t say
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
Capital introduced in beginning by Ram Rs. 40,000. Further capital int...
Rs. 53600 - 40000 -1000 + (12*200) = Rs. 15000
Most Upvoted Answer
Capital introduced in beginning by Ram Rs. 40,000. Further capital int...
Not be determined from the given information.
Solution:
We can use the following formula to calculate the profit or loss for the year:
Profit/Loss = Closing Capital - (Beginning Capital + Additional Capital - Drawings)
Substituting the values given in the question, we get:
Profit/Loss = 53600 - (40000 + 1000 - 200*12)
Profit/Loss = 53600 - 42400
Profit/Loss = 11200
Therefore, the profit for the year is Rs. 11,200.
None of the options provided matches the calculated answer, so the correct answer would be (e) None of the above.
Solution:
We can use the following formula to calculate the profit or loss for the year:
Profit/Loss = Closing Capital - (Beginning Capital + Additional Capital - Drawings)
Substituting the values given in the question, we get:
Profit/Loss = 53600 - (40000 + 1000 - 200*12)
Profit/Loss = 53600 - 42400
Profit/Loss = 11200
Therefore, the profit for the year is Rs. 11,200.
None of the options provided matches the calculated answer, so the correct answer would be (e) None of the above.
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Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :a)Rs. 15,000 profitb)Rs. 5000 Lossc)Rs. 20,000 Profitd)Can’t sayCorrect answer is option 'A'. Can you explain this answer?
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Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :a)Rs. 15,000 profitb)Rs. 5000 Lossc)Rs. 20,000 Profitd)Can’t sayCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :a)Rs. 15,000 profitb)Rs. 5000 Lossc)Rs. 20,000 Profitd)Can’t sayCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :a)Rs. 15,000 profitb)Rs. 5000 Lossc)Rs. 20,000 Profitd)Can’t sayCorrect answer is option 'A'. Can you explain this answer?.
Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :a)Rs. 15,000 profitb)Rs. 5000 Lossc)Rs. 20,000 Profitd)Can’t sayCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :a)Rs. 15,000 profitb)Rs. 5000 Lossc)Rs. 20,000 Profitd)Can’t sayCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Capital introduced in beginning by Ram Rs. 40,000. Further capital introduced during the year Rs. 1000. Drawings Rs. 200 per month and closing capital is Rs. 53,600. The amount of profit or loss for the year is :a)Rs. 15,000 profitb)Rs. 5000 Lossc)Rs. 20,000 Profitd)Can’t sayCorrect answer is option 'A'. Can you explain this answer?.
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