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

Preparation of financial statements — practice question

Jane has now finished her first year of trading as a sole trader. The following information is given for the year ended 31 December: - profit for the year: $89 200 - bank loan at 31 December: $10 000 - drawings for the year: $46 500 - capital at 31 December: $202 000 - capital introduced during the year: $20 000 How much capital did Jane have when the business started?

  • A$92 800
  • B$129 300
  • C$139 300
  • D$159 300

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