Amy is a sole trader and had assets of $569,400 and liabilities of $412,840 on 1 January

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Amy is a sole trader and had assets of $569,400 and liabilities of $412,840 on 1 January 20X8.

During the year ended 31 December 20X8 she paid $65,000 capital into the business and she paid herself wages of $800 per month.

At 31 December 20X8, Amy had assets of $614,130 and liabilities of $369,770.

What is Amy's profit for the year ended 31 December 20X8?

Related Book For answer-question

Financial Accounting

ISBN: 978-0133427530

10th edition

Authors: Walter Harrison, Charles Horngren, William Thomas

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Posted Date: Jan 18, 2021 08:25 AM

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Amy is a sole trader and had assets of $569,400 and liabilities of $412,840 on 1 January

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Financial Accounting

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