Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

Beth gave the information below. Net assets on $1\ \text{January}$: $\$28\,000$ Net assets on $31\ \text{December}$: $\$24\,000$ During the year, her drawings totalled $\$3000$. What profit or loss did Beth make for the year?

  • A$\$1000$ loss
  • B$\$1000$ profit
  • C$\$7000$ loss
  • D$\$7000$ 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