A-LevelAccountingPreparation of financial statements9706/12 · Feb/Mar 2019 · Q121 Mark
For the year ended 31 December 2018, Sim’s net assets increased by $1210. The following transactions took place during 2018. 1 Payments out of Sim’s personal bank account: rent for business office $3600, rent for personal residence $2000. 2 Drawing of goods: with a cost $6200 and sales value $7700. 3 Drawing of cash: $9750. What was the profit for the year ended 31 December 2018?
A$11560
B$13560
C$15060
D$15160
✓ Correct answer
B: $13560
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