Which transaction decreases one asset and increases another asset?
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Amount received from a debtor.
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A starts a business and invests $₹ 50,000$ on $1^{st}$ April, $2018$. On $31^{st}$ March, $2019$ his assets are $₹ 65,000$ and liabilities are $₹ 6,000$. Find out the amount of capital on $31^{st}$ March, $2019$ and his profit.
On $31^{\text {st }}$ March, $2019,$ the total assets and external liabilities were $₹ 2,00,000$ and $₹ 6,000$ respectively.
During the year, the proprietor had introduced capital of $₹ 20,000$ and withdrawn $₹ 12,000$ for personal use. He made a profit of $₹ 20,000$ during the year. Calculate the capital as on $1^{\text {st }}$ April, $2018.$
‘X’ commenced business on 1st April, 2013 with a capital of ₹ 6,00,000. On 31st March, 2014 his assets were worth ₹ 8,00,000 and liabilities ₹ 50,000. Find out his closing capital and profits earned during the year.