Multiple choice

On 31st December, the total assets and external liabilities were Rs. 2,00,000 and Rs. 6,000, respectively. During the year, the proprietor had introduced capital of Rs. 20,000 and withdrawn Rs. 12000 for personal use. He made a profit of Rs. 20,000 during the year. Calculate the opening capital as on 1st January.

  1. Rs. 1,94,000

  2. Rs. 2,22,000

  3. Rs. 1,66,000

  4. Rs. 1,82,000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Rs. 2,22,000

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