Given:
Opening capital – #1,500
Capital introduced – # 500
Profit for the year – # 800
Cash drawings – # 250
Calculate the closing capital
-
A.
#2,550 -
B.
#2,500 -
C.
#2,350 -
D.
#2,250
Correct Answer: Option A
Explanation
Closing capital = Opening Capital + Additional Capital + Profit – Less Loss – Drawings
1500 + 500 + 800 – 250 = 2550