could anyone answerme this?
given opening capital=500000, profits during year=100000
what is the average capital?
5 Replies
MANOJ CHANDRA SHARMA
(JOB)
(59 Points)
Replied 10 June 2010
first it is assumed that in capital profit figure is already added
therefore average capital=closing capital-1/2 of profit
= 500000-50000
= 450000
am i right ?
shakuntala chhangani
(FCA Course co-ordinator WIRC coaching centre)
(2525 Points)
Replied 10 June 2010
my dear, closing capital = opening capital + profits
i.e.5,00,000 + 1,00,000 = 6,00,000
Now, avg. capital = closing capital - 1/2 of profits
=6,00,000 - 1/2* 1,00,000
= 6,00,000 - 50,000 = 5,50,000
shakuntala chhangani
(FCA Course co-ordinator WIRC coaching centre)
(2525 Points)
Replied 14 June 2010
Friends, in continuation, u can ask me any CPT accounts question for ur June 2010 exams. I will try to give a prompt reply
Regards, CA Shakuntala Chhangani
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