Shekinah traders had the following record for the year ending 30th June 2016.
Capital as at 30th June 2018 sh 640,000
Net profit for the year sh 140,000
Capital as at 1st July 2015 sh 420,000
Drawing for the year sh 180,000
Required: calculate the additional capital during the year.


Answer:

-additional capital= (closing capital + drawing)-(opening capital + net profit)
= sh (640,000 + 180,000)-sh (420,000+140,000)
= sh 820,000-sh560,000 =sh 260,000


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