The following information relates to Boogies Boutique: During the year ended 31 December 20*8, the proprietor of
Question:
The following information relates to Boogies Boutique:
During the year ended 31 December 20*8, the proprietor of Boogies Boutique introduced a further £9,500 from a private source. She also withdrew £16,500 for personal expenditure.
Required
Calculate the profit or loss for the year ended 31 December 20*8.
Transcribed Image Text:
Fixed assets Current assets Long-term liability Current liabilities At 1 January 20*8 £ 70,000 26,000 18,000 At 31 December 20*8 £ 72,000 27,000 20,000 23,000
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To calculate the profit or loss for the year ended December 31 208 you can use the formula ProfitLos...View the full answer
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