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At the year end, the total assets of a business were 189,000 and total liabilities were 126,000. During the year, the owner withdrew 10,000 and
At the year end, the total assets of a business were 189,000 and total liabilities were 126,000. During the year, the owner withdrew 10,000 and introduced a further 18,000 in equity. The business began the year with total assets of 180,000 and total liabilities of 112,000. What is the profit(loss) for the year?
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