If Building (closing) Rs.100,000, Land (opening) Rs. 100,000, Creditors (opening) Rs.10,000 then opening capital:
A)Rs. 190,000
B)Rs. 210,000
C)Rs. 90,000
D)None of these

Question

Quizplus · Accepted Answer

Opening capital is calculated as opening assets minus opening liabilities. Here, opening assets are Land (Rs. 100,000) and opening liabilities are Creditors (Rs. 10,000). Therefore, opening capital = Rs. 100,000 - Rs. 10,000 = Rs. 90,000.

If Building (Closing) Rs