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Opening capital = Rs. 45,000
Interest on capital = Rs. 2,000
Interest on drawings = Rs. 5,000
Drawings = Rs. 14,000
Profit = Rs. 15,000
Closing Capital = ?
  • a)
    Rs. 63,000
  • b)
    Rs. 43,000
  • c)
    Rs. 47,000
  • d)
    Rs. 30,000
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Opening capital = Rs. 45,000Interest on capital = Rs. 2,000Interest on...
Opening Capital and Interest on Capital
- Opening capital = Rs. 45,000
- Interest on capital = Rs. 2,000

Total = Rs. 47,000

Interest on Drawings and Drawings
- Interest on drawings = Rs. 5,000
- Drawings = Rs. 14,000

Total = Rs. 19,000

Profit
- Profit = Rs. 15,000

Closing Capital Calculation
- Add Opening Capital and Interest on Capital = Rs. 47,000
- Add Profit = Rs. 15,000
- Subtract Drawings and Interest on Drawings = Rs. 19,000

Closing Capital = Rs. 43,000
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Community Answer
Opening capital = Rs. 45,000Interest on capital = Rs. 2,000Interest on...
Opening capital + Interest on capital+profit - drawing - Interest on capital=closing capital =45,000+2,000+15,000-14,000-5,000=43,000.
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Opening capital = Rs. 45,000Interest on capital = Rs. 2,000Interest on drawings = Rs. 5,000Drawings = Rs. 14,000Profit = Rs. 15,000Closing Capital = ?a)Rs. 63,000b)Rs. 43,000c)Rs. 47,000d)Rs. 30,000Correct answer is option 'B'. Can you explain this answer?
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Opening capital = Rs. 45,000Interest on capital = Rs. 2,000Interest on drawings = Rs. 5,000Drawings = Rs. 14,000Profit = Rs. 15,000Closing Capital = ?a)Rs. 63,000b)Rs. 43,000c)Rs. 47,000d)Rs. 30,000Correct answer is option 'B'. 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 Opening capital = Rs. 45,000Interest on capital = Rs. 2,000Interest on drawings = Rs. 5,000Drawings = Rs. 14,000Profit = Rs. 15,000Closing Capital = ?a)Rs. 63,000b)Rs. 43,000c)Rs. 47,000d)Rs. 30,000Correct answer is option 'B'. 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 Opening capital = Rs. 45,000Interest on capital = Rs. 2,000Interest on drawings = Rs. 5,000Drawings = Rs. 14,000Profit = Rs. 15,000Closing Capital = ?a)Rs. 63,000b)Rs. 43,000c)Rs. 47,000d)Rs. 30,000Correct answer is option 'B'. Can you explain this answer?.
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