Question
The balance sheet of I. Turner Sole trader showed: 30 June 2013 2014 Capital I. Turner $150,000 $190,000 The profit for the year ending 30
The balance sheet of I. Turner Sole trader showed:
30 June
2013 2014
Capital I. Turner $150,000 $190,000
The profit for the year ending 30 June 2014 was $60,000. During the year additional capital of $40,000 was contributed in cash. Drawing in cash were made weekly. The amount of drawings for the year is?
A)$40,000
B) $60,000
C)$20,000
D)$100,000
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Cost Accounting
Authors: William K. Carter
14th edition
759338094, 978-0759338098
