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O-LevelAccountingPreparation of financial statements7707/12 · May/June 2016 · Q201 Mark

A trader supplied the following information. 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$26000

✓ Correct answer

B: $14000

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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, May/June 2016 Paper 1 Variant 2, question 20.

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