which one of the following can the accounting equation can be rewritten as? A) Assets-profit-drawings=closing capital-...

Question

Question

which one of the following can the accounting equation can be rewritten as?

A) Assets-profit-drawings=closing capital- liabilities

B) assets-liabilities-drawings=open capital+profit

C) assets-liabilities-open capital+drawings=profit

D) assets+profit-drawings-liabilities=Closing capital

Answer 1

Answer #1

Standard Accounting Equation :
Assets = Liabilities + Capital

Capital = Opening Capital + Profit - Drawings

Assets - Liabilities - Openng Capital + Drawings = Profit

Correct Answer is ( C )

Answer 2

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