Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

On 1 February 2019, a business gave the information below. non-current assets $75\,000$ current assets $40\,000$ current liabilities $25\,000$ For the year ending 31 January 2020, the business earned a profit of $10\,000$. During that year, the owner took no drawings. What amount of capital was there on 31 January 2020?

  • A$35\,000$
  • B$50\,000$
  • C$70\,000$
  • D$100\,000$

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