Opening capital 1,40,000, profit for the year 40,000, drawings 14,000 During the year proprietor sold ornaments - Accountancy - Theory Base of Accounting

Question

Opening capital ?1,40,000, profit for the year ?40,000, drawings
?14,000 During the year proprietor sold ornaments of his wife for
?40,000 and invested the same in the business Calculate closing
capital

Mehak Garg · Accepted Answer

Opening capital ?1,40,000, profit for the year ?40,000, drawings ?14,000. During the year proprietor sold ornaments of his wife for ?40,000 and invested the same in the business. Calculate closing capital