Question
The balance sheets of Terry Ukov, sole trader, showed the following. 30 June 2015 2016 Capital T. Ukov $150 000 $200 000 The profit for
The balance sheets of Terry Ukov, sole trader, showed the following. 30 June 2015 2016 Capital T. Ukov $150 000 $200 000 The profit for the year ended 30 June 2016 was $60 000. During the year additional capital of $10 000 was contributed in cash. Drawings in cash were made weekly. The amount of drawings for the year is: Select one: a. $40 000 b. $20 000 c. $50 000 d. $60 000
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Financial Accounting
Authors: Carl Warren, James M. Reeve, Philip E. Fess
8th Edition
0324025394, 978-0324025392
