The following information was extracted from the books of Agnes business enterprise for the year ended 30th june 2000
Capital as at 30th june 2000-640,000
Capital as at 1st july 1999-420,000
Drawing for the year-180,000
Net profit for the year-140,000
Determine the additional capital during the year.

Answer:

Solution:
Additional capital=closing capital-opening capital-profit+drawing
AC=sh.(640000-420000-140000+180000)
AC=(640000-560000+180000)
=640000+180000-560000
=820000-560000
AC=sh.260,000
Additional capital=sh. 260,000

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