alleryStart learning →Capital rose from Rs 1,50,000 to Rs 1,90,000 and profit was Rs 55,000. What were the drawings?
ARs 40,000
BRs 15,000
CRs 55,000
DRs 95,000
Answer & Solution
Correct answer: B. Rs 15,000
Drawings = opening capital + profit - closing capital = 1,50,000 + 55,000 - 1,90,000 = 15,000.
Keep practising Accounts from Incomplete Records
Browse all Accounts from Incomplete Records questions for CA Foundation, or explore more Accounting topics.
Related questions
Is value added tax generally part of cost of goods sold if it is recoverable?Which method suits goods that are indistinguishable from each other?Which method of identifying cost assumes the oldest purchases are sold first?Debtors 50,000 opening; credit sales 3,00,000; cash 2,70,000; discount 10,000; bad debts 5Cash receipts were Rs 2,00,000, of which Rs 1,20,000 came from debtors. Cash sales were whCash opened at Rs 10,000 and closed at Rs 18,000 after payments of Rs 1,52,000. Total receOpening cash Rs 12,000, receipts Rs 1,48,000, payments Rs 1,35,000. What is the closing caCreditors opened at Rs 50,000, credit purchases Rs 2,00,000, payments Rs 1,70,000. Closing