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The accounting equation can be rewritten as: assets plus profit less drawings less liabilities equal closing capital. assets less liabilities less drawings equal opening capital
The accounting equation can be rewritten as:
- assets plus profit less drawings less liabilities equal closing capital.
- assets less liabilities less drawings equal opening capital plus profit.
- assets less liabilities less opening capital plus drawings equals profit.
- opening capital plus profit less drawings less liabilities equals assets.
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