calculate drawings, opening Capital is 1,00,000 , total assets at the end of the year is 7,00,000 , creditor is 2,00,000 , profit 2,00,000 , additional capital 1,50,000

Dear Student,

Closing Capital = Total Assets - External Liabilities
Closing Capital = 7,00,000 - 2,00,000 = 5,00,000

Closing Capital + Drawings - Profit - Additional Capital = Opening Capital
Drawings = Opening Capital - Closing Capital + Profits + Additional Capital
Drawings = 1,00,000 - 5,00,000 + 2,00,000 + 1,50,000
Drawings = (50,000)

There seems some error in the question. With the given figures, drawings is coming out to be a negative figure.