What does debit balance of a Real Account indicates?
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It indicates the value of an asset in the books of the firm.
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A commenced his cloth business on $1^{\text {st }}$ April, $2018$ with a capital of $₹ 30,000$. On $31^{\text {st }}$ March $2019$ , his assets were worth $₹ 50,000$ and liabilities of $₹ 10,000$. Find out his closing capital and profits earned during the year.