Given:
Opening capital - #1,500
Capital int...
Given:
Opening capital - #1,500
Capital introduced - # 500
Profit for the year - # 800
Cash drawings - # 250
Calculate the closing capital.
#2,550
#2,500
#2,350
#2,250
Correct answer is A
Closing capital = Opening Capital + Additional Capital + Profit - Less Loss - Drawings
1500 + 500 + 800 - 250 = 2550
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