Equity balances for Sen Widyaya appearing in the statement of financial positions of Widyaya’s Window Washing Services as at 30 June 2024, 2023 and 2022 are set out below.

During 2022–2023, Sen withdrew \($15000\) for personal use and also contributed additional capital of \($10\) 000. During 2023–2024, he withdrew \($15000\) cash for his own use in anticipation of profits.

Required 

Determine the profit/loss earned by the business in each of the 2 years ended 30 June 2023 and 30 June 2024.

Transcribed Image Text:

EQUITY 30 June 2024 30 June 2023 30 June 2022 Sen Widyaya, capital $27 300 $30 000 $28 000