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Overview of Companies Financial Statements

formula of cl...

Question

formula of closing and opening capital?

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Solution

The formulae for opening and closing capital would depend on the data given in the questions, but generally used formulas are :

Closing Capital = Opening Capital + Profit−Loss + Additional Capital Introduced – Drawings

Opening Capital = Closing Capital +Drawings−Additional Capital−Profits +Loss

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Q. If closing capital is Rs.30000 and profit is Rs.5000; opening capital was Rs. ____________.

Q. When closing capital is greater than opening capital, it denotes ______.

Q. Excess of closing capital over opening capital of proprietor under single entry system.

Q. Excess of opening capital over closing capital of proprietor under single entry system is called __________.

Q. Select the most appropriate answer the alternatives given below and rewrite the Sentences.

Under Single Entry System Opening Capital = Opening Assets Less _____________.
a) Closing Assets
b) Opening Liabilities
c) Opening Assets
d) Closing Liabilities

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