Joe Smiths Capital on 1 January 2011 was 74,200. What would be his capital by 31 December

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Joe Smith’s Capital on 1 January 2011 was £74,200. What would be his capital by 31 December 2011, if during the year ending on that date:

(a) Net profit was £18,200 and drawings none
(b) Net profit was £22,600 and drawings £5,000
(c) Net loss was £15,400 and drawings none
(d) Net loss was £18,200 and drawings £6,000

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 26, 2023 07:34 AM

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Joe Smiths Capital on 1 January 2011 was 74,200. What would be his capital by 31 December

Question:

W X £56,000 £74,200 £46,600 £56,600 £58,800 £74,200 £50,000 £62,000 y £92,400 £91,800 £89,600 £86,400 Z £110,600 £101,800 £105,000 £98,400

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Financial Accounting An Introduction

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