A-LevelAccountingPreparation of financial statements9706/12 · May/June 2017 · Q91 Mark

Finn provides the following information. $ capital at the start of the year 19 800 profit for the year 24 000 drawings (cash) 19 500 drawings (goods for own use) 1100 private vehicle transferred to business use 6000 What was Finn's capital at the end of the year?

A$23 200

B$24 300

C$29 200

D$31400

✓ Correct answer

C: $29 200

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Topic: Preparation of financial statements, A-Level Accounting (syllabus 9706). Multiple choice, 1 mark.
Source: A-Level Accounting, May/June 2017 Paper 1 Variant 2, question 9.

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