A business's bank balance increased by $750,000 during its last financial year. During the same period it issued shares of $1 million and repaid a debenture of $750,000. It purchased non-current assets for $200,000 and charged depreciation of $100,000. Working capital (other than the bank balance) increased by $575,000. Its profit for the year was A $1,175,000 B $1,275,000 C $1,325,000 D $1,375,000
A business's bank balance increased by $750,000 during its last financial year. During the same period it issued shares of $1 million and repaid a debenture of $750,000. It purchased non-current assets for $200,000 and charged depreciation of $100,000. Working capital (other than the bank balance) increased by $575,000. Its profit for the year was A $1,175,000 B $1,275,000 C $1,325,000 D $1,375,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A business's bank balance increased by $750,000 during its last financial year. During the same period it
issued shares of $1 million and repaid a debenture of $750,000. It purchased non-current assets for $200,000
and charged
Its profit for the year was
A $1,175,000
B $1,275,000
C $1,325,000
D $1,375,000
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