Question
Amy is a sole trader and had assets of $569,400 and liabilities of $412,840 on 1 January 20X8. During the year ended 31 December 20X8
Amy is a sole trader and had assets of $569,400 and liabilities of $412,840 on 1 January 20X8. During the year
ended 31 December 20X8 she paid $65,000 capital into the business and she paid herself wages of $800 per
month.
At 31 December 20X8, Amy had assets of $614,130 and liabilities of $369,770.
What is Amys profit for the year ended 31 December 20X8?
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
