Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

Gustav started a business on 1 January 2023 with capital of $\$50\,000$. For the year ended 31 December 2024, the information provided was as follows: - opening capital balance: $\$58\,000$ - extra capital introduced: $\$2\,000$ - drawings made during the year: $\$9\,880$ - closing capital balance: $\$60\,156$ What profit did Gustav earn in 2024?

  • A$\$4\,156$
  • B$\$8\,000$
  • C$\$10\,036$
  • D$\$18\,036$

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