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Q.26 Surendra started business on 1 April, 2020 with a capital of Rs. 2,20,000. During the year, he introduced further capital Rs. 1,30,000 but withdrewRs. 35,000 during the year for personal use. At the end of the year, hisassets worth Rs. 2,00,000 and liabilities amounting to Rs. 30,000.Determine his capital at the end of the year and profit or loss incurredduring the year ending 31st March, 2017.​

Answer»

6,20,000Explanation:X had started BUSINESS with Rs.2,00,000 in the beginning of the year. During the year, he borrowed Rs.1,00,000 from Y. He further introduced Rs.2,00,000 in the business. He also GAVE Rs.50,000 as loan to his son. Goods GIVEN away as charity by him were Rs.20,000. Profits EARNED by him were Rs.2,50,000. He also withdraw Rs.30,000 from the business. His capital at the end of the year would be__________.



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