How is the closing capital calculated under Single Entry System?

1.	How is the closing capital calculated under Single Entry System?
Answer» Under Single Entry System, the closing capital is calculated by deducting the closing balances of all liabilities from the closing balances of all assets at the end of the accounting year. Closing = Closing Assets – Closing Liabilities

Answer»

Under Single Entry System, the closing capital is calculated by deducting the closing balances of all liabilities from the closing balances of all assets at the end of the accounting year.

Closing = Closing Assets – Closing Liabilities

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How is the closing capital calculated under Single Entry System?

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