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mammuna 1 year, 9 months ago.
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- June 11, 2016 at 12:08 pm
hi
can someone please explain how do you get fromcapital=assets – liabilities
to
capital=opening net assets +profit- drawing
thanks
June 12, 2016 at 1:30 pmThe first on is a snap-shot at any point in time.
The second one is a ‘journey’: closing capital = opening net assets + profit – drawings.
This explains how capital has changed over a period (note that opening net assets = opening capital)
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