Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

In Amarjit’s books, the year-end closing balances were as follows: non-current assets $25\,000$, trade receivables $11\,000$, bank overdraft $3\,000$, other payables $600$. What was the value of Amarjit’s capital at the end of the year?

  • A$7\,400$
  • B$10\,400$
  • C$32\,400$
  • D$38\,400$

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI