O-LevelAccountingAccounting procedures7707/11 · May/June 2016 · Q201 Mark

A trader supplied the following information. [Table: capital at start of the year $30000; capital at end of the year $50000; drawings during the year $12000; additional capital introduced during the year $18000] What was the profit for the year?

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A$10000

B$14000

C$20000

D$26.000

✓ Correct answer

B: $14000

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Topic: Accounting procedures, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2016 Paper 1 Variant 1, question 20.

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