Accounting 9706 · AS & A Level · The accounting system

The accounting system — practice question

Jaime gave the information below. capital at the start of the year: $14 000 capital at the end of the year: $12 300 loan received during the year: $4 000 cash drawings: $17 200 private phone charges paid by the business: $300 What was the profit for the year?

  • A$11 800
  • B$15 500
  • C$15 800
  • D$19 200

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