Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

A trader supplied the following information. Capital as at 1 October 2019: $\$52\,000$. Motor vehicle introduced into the business by the trader: $\$3500$. Personal expenses settled from the business bank account: $\$1500$. Cash drawings taken during the year: $\$500$. What was the capital at 30 September 2020?

  • A$\$46\,500$
  • B$\$50\,000$
  • C$\$53\,500$
  • D$\$55\,000$

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