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Formula for opening capital and closing capital
my dear gentle CA's could you plse tell what is the formula for opening capital and closing capital with examples
Replies (1)
People do follow usual formulas, but I think it’s debt and equity capital from previous year will be current o/b. Then subtract drawings and add additional capital raised. Again subtract the amount of money transferred to reserves. The final amount will be closing balance. Next, use schedule three to find the equity capital balances
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