O-LevelAccountingAccounting procedures7707/11 · Oct/Nov 2017 · Q241 Mark

Karim did not keep proper accounting records, but was able to provide the following information. capital at 1 January $58000 drawings during the year $8500 capital introduced in the year $15000 capital at 31 December $82500 What was the profit for the year?

A$16000

B$18000

C$33000

D$48.000

✓ Correct answer

B: $18000

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2017 Paper 1 Variant 1, question 24.

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