A-LevelAccountingSole Trader AccountsFeb/Mar 2021Paper 1 Q111 Mark
Esarba has a financial year end of 31 December. On 31 March 2020, she transferred her private vehicle to the business at a value of $12000. Her profit for the year ended 31 December 2020 was $7800 and her cash drawings amounted to $8000. Depreciation of $900 had been provided on the vehicle. She also took goods for her own use with a cost price of $1000 and a selling price of $2000. What was the increase in Esarba's capital account balance in the year ended 31 December 2020?
A$8900
B$9800
C$9900
D$10800
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The correct answer is D. This question tests the candidate's understanding of sole trader accounts within the Accountingsyllabus. The examiner's mark scheme requires...
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