Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

Nula gave the following figures for the year ended 31 March 2021: drawings during the year $3\,900$ net assets on 1 April 2020 $60\,500$ net assets on 31 March 2021 $72\,275$ What profit or loss was made for the year ended 31 March 2021?

  • A$7\,875 loss
  • B$7\,875 profit
  • C$15\,675 loss
  • D$15\,675 profit

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