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While preparing statement of affairs ,y opening capital is deducted from adjusted closing capital ?? Y not opening capital minus adj closing capital ??


Reetikaa  R

Reetikaa R

CA Foundation

4K+

15-Feb-21 19:50

17

Answers (5)

Pls elaborate your query.


Suraj Lakhotia

Suraj Lakhotia

Admin

16-Feb-21 10:47

Pls elaborate your query.

Y we minus opening capital from adjusted closing capital in statement of affairs ?? The formula goes like this : adj closing capital - opening capital .why not oc -cs ??


Reetikaa  R

Reetikaa R

CA Foundation

4K+

16-Feb-21 17:07

Which formula are you referring to. Pls share.

This one sir..I m asking y not oc -closing capital

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Reetikaa  R

Reetikaa R

CA Foundation

4K+

17-Feb-21 12:04

This one sir..I m asking y not oc -closing capital

Then how will you account for drawings and profit?


Suraj Lakhotia

Suraj Lakhotia

Admin

17-Feb-21 12:44

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