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Answer: 52
Step-by-step explanation: it might not be it. GOD BLESS.
Answer:4.5
Step-by-step explanation:
A 0 1 2 3
B 0 1.5 3 4.5
In case there is no double entry system is followed, profit can be calculated by comparing the opening and closing capital. In the given situation this can be calculated as:
Opening Capital Rs.200000
Add: Capital Introduced Rs.200000
Add: Profit for the year Rs. 250000
Less: Loss for the year Rs.NIL
Less: Drawings Rs. 30000
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Capital at the end of the year Rs.620000
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Loan taken is a liability and loan given is asset, that will not affect the capital.
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