Opening capital $45 000; closing capital $37 000; further capital invested during the year $10 000. Calculate

Question:

Opening capital $45 000; closing capital $37 000; further capital invested during the year $10 000. Calculate business profit (or loss) for the year.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Cambridge International As And A Level Accounting Revision Guide

ISBN: 9781444192001

1st Edition

Authors: Ian Harrison, Michael Hillman

See More Books

Question Posted: Aug 28, 2023 12:16 PM

See More Questions

You are required to study the information provided below concerning a Namibian listed company called Deep Yellow Limited, that operates in the mining industry. You should compile a report based on...
The Trail Balance of BSAF ltd is provided to you and you are required to answer the questions ACCOUNT DEBIT CREDIT SALES 150,000 PURCHASES 97,500 CARRIAGE INWARDS 1,680 CARRIAGE OUTWARDS 1,344...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-6. On December 12, Irene purchased the building where her store is located. She paid...
The current auditor of CTT Company Limited (CTT), the largest property management group in Hong Kong, will resign after the nancial statements audit for the year ended 31 December 2021. Tony, a...
Use the data for Donovan, Inc., in Exercise 6-29B to answer the following. Requirements 1. Compute cost of goods sold and ending inventory using each of the following methods: a. Specific unit cost,...
How does your college or university position itself? If you were responsible for coming up with a new positioning, or repositioning, for your college/university, what would that be? Justify your...
On 1 July 2025 Costopoulos, Hashmi and Torcello decided to enter into a partnership agreement, some of the relevant information is as follows. 1. Costopoulos contributed $$27200$ cash, inventory...
Strawn Corporation had these transactions during 2012. (a) Purchased a machine for $30,000, giving a long-term note in exchange. (b) Issued $50,000 par value common stock for cash. (c) Issued...
1. A scientific committee is to be formed form 6 Indians and 8 foreigners, which includes at least 2 Indians and double the number of foreigners as Indians. Then the number of ways the committee and...
Cash paid to trade payables during a year is credited to a trade payables adjustment account to find sales for the year. Is this statement true or false?
You are given a cash book, bank statements and a list of assets and liabilities at the beginning of a year. How would you calculate opening capital?
Erin had both her left ovary and her right uterine tube removed surgically at age 17 because of a cyst and a tumor in these organs. Now, at age 32, she remains healthy and is expecting her second...
5. Three identical wheels all have four 1 kg masses attached to their spokes. Each wheel has the four masses attached at different positions as shown in the diagram. Equal lengths of string are...
Please complete the rest of the operating budget analysis for CHEWY INC (CHWY via New York Stock Exchange) using your own scholarly source. I included the excel link to the financial statements from...
4. When using ftp, each character, ch, that is typed on the remote machine is copied and sent to display on the local machine. Assume only alphabetic characters (standard ASCII format) are being...
Draw and design, your own version of a combined infant and toddler classroom environment. Explain your classroom and the contents held within each area. You should list minimally eight items in each...
Convert each character in the input string to its opposite case, please use memory addresses to get each character of the input string. Q2: (20 points) logic XOR operation has an interesting...
Ticker Services began operations in 2013 and maintains long-term investments in available-for-sale securities. The year-end cost and fair values for its portfolio of these investments follow. Prepare...
What does non-recourse financing mean?
Identify two types of person that would use accounting information for stewardship purposes.
Explain the difference between the stewardship function and the management function of using accounting information.
Carriage inwards will increase/decrease the value of purchases/sales.
1. You have some savings in a bank which is earning a 3.5% rate of interest. You want to begin a retirement fund for yourself by investing in the stock market. You believe you will need $350,000 to...
2. You plan on retiring in 30 years and believe it is time to start making annual contributions to a retirement account. (a) How much will you have in your retirement account if you deposit $2800...
A property could be sold today for $2.08 million. It has a loan balance of $1.16 million and, if sold, the investor would incur a capital gains tax of $266,000. The investor has determined that if it...

Opening capital $45 000; closing capital $37 000; further capital invested during the year $10 000. Calculate

Question:

Step by Step Answer:

Loss of 18 000 clos...View the full answer

Cambridge International As And A Level Accounting Revision Guide

Students also viewed these Business questions