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O-LevelAccountingPreparation of financial statements7707/12 · Oct/Nov 2022 · Q21 Mark

On 1 June 2021, Sue's capital account had a credit balance of $120000. During the year ended 31 May 2022 she withdrew goods costing $1800. The loss for the year was $14200. What was the credit balance on Sue's capital account on 1 June 2022?

A$104000
B$105800
C$107 600
D$134 200

✓ Correct answer

A: $104000

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About this question

Topic
Preparation of financial statements, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, Oct/Nov 2022 Paper 1 Variant 2, question 2.

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