Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

Finn gave the information below. Capital at the beginning of the year $19800, profit for the year $24000, drawings (cash) $19500, drawings (goods for own use) $1100, private vehicle transferred to business use $6000. What was Finn’s capital at the end of the year?

  • A$23200
  • B$24300
  • C$29200
  • D$31400

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