Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

The information below is taken from the financial records of a trader. Capital at 1 January 2015: $65000 Capital introduced on 30 June 2015: $20000 Drawings for the year ended 31 December 2015: $35000 Capital at 31 December 2015: $90000 What profit was earned for the year ended 31 December 2015?

  • A$10000
  • B$30000
  • C$35000
  • D$40000

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