Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

Beth gave the information below. Net assets on 1 January stood at $28000$ and on 31 December they stood at $24000$. Her drawings for the year totalled $3000$. What profit or loss did Beth make for the year?

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

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