Question
On 1 January 2021 the net assets of Fatimas business amounted to 74,000. During the year ended 31 December 2021, her business recorded a profit
On 1 January 2021 the net assets of Fatimas business amounted to 74,000. During the year ended 31 December 2021, her business recorded a profit of 33,000, Fatima withdrew 26,000 to cover personal living costs, and she also invested an additional 7,500 into her business. What were the net assets of Fatimas business as at 31 December 2021?
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel
3rd Edition
0730302296, 978-0730302292
