Bobby is in business as a market stallholder. He has not kept full accounting records. His statement
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Bobby is in business as a market stallholder. He has not kept full accounting records. His statement of affairs at 1 April 2014 showed his capital was $86 000; his statement of affairs at 31 March 2015, however, showed his capital was $106,000. During the year his drawings were $28 000 and he introduced $24 000 as extra capital.
What was his profit for the year?
A. $16,000
B. $20,000
C. $24,000
D. $28,000
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A 16000 To calculate Bobbys profit for the year ...View the full answer
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Related Book For 
Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone
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