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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
A commenced his cloth business on 1st April, 2024 with a capital of ₹30,000. On 31st March 2025, his assets were worth ₹50,000 and liabilities of ₹10,000. Find out his closing capital and profits earned during the year.
Closing Capital = Total Assets − Liabilities
| Closing Capital | = ₹50,000 − ₹10,000 |
| = ₹40,000 |
Profit = Closing Capital − Opening Capital
| Profit | = ₹40,000 − ₹30,000 |
| = ₹10,000 |
Closing Capital = ₹40,000 | Profit earned during the year = ₹10,000
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "T.S. Grewal Class 11 Chapter 5 Q.18 - Find Closing Capital and Profit", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Chapter 5 - Accounting Equation.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "T.S. Grewal Class 11 Chapter 5 Q.18 - Find Closing Capital and Profit" instantly.
Solution to Q.1 of Chapter 5 Accounting Equation, T.S. Grewal Double Entry Book Keeping Class 11 2025-2026.
Solution to Q.2 of Chapter 5 Accounting Equation, T.S. Grewal Double Entry Book Keeping Class 11 2025-2026.
Solution to Q.3 of Chapter 5 Accounting Equation, T.S. Grewal Double Entry Book Keeping Class 11 2025-2026.