Answered step by step
Verified Expert Solution
Question
1 Approved Answer
King Richard, who is a sole trader, made a profit of $22,860 in the year to 30 November 2005. During the year his drawings were
King Richard, who is a sole trader, made a profit of $22,860 in the year to 30 November 2005. During the year his drawings were $16,890. At 1 December 2004 the balance on his capital account was $68,920. What is the balance on King Richard's capital account at 30 November 2005? Exclude $, and space from your answer. Example $6,500 input as 6500
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started