_________ capital can be found by preparing a statement of affairs at the beginning of the year.

Increase in owner's equity at the end of the period represents.

The capital of a business is ascertained by preparing

To find out the profit, closing capital is to be adjusted by ______ drawings and _______ introduction of fresh capital.

Single Entry System is

Discount received from accounts payable may be obtained from

The amount received from debtors can be traced from

In ____ system, only personal and cash accounts are opened.

Credit purchase can be ascertained as the balancing figure in the

A firm has assets worth Rs. 60,000 and capital Rs.45,000. Then its liabilities is