A business shows an increase in its net assets over the year of 35,000. During the year
Question:
A business shows an increase in its net assets over the year of £35,000. During the year the proprietor paid an inheritance of £25,000 into the business bank account.
Required
Calculate the profit or loss made by the business during the year.
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To calculate the profit or loss made by the business during the year we need to consider the increase in net assets and the inheritance payment The in...View the full answer
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