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O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2025 · Q301 Mark

Gustav began a business on 1 January 2023 with $50000 capital. He provided the following information for the year ended 31 December 2024: capital opening balance: $58000 additional capital introduced: $2000 drawings for the year: $9880 capital closing balance: $60156 How much profit did Gustav make in 2024?

A$4156
B$8000
C$10036
D$18036

✓ Correct answer

C: $10036

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2025 Paper 1 Variant 2, question 30.

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