A sole trader had opening capital of $10,000 and closing capital of $4,500. During the period, the owner introduced capital of $4,000 and withdrew $8,000 for her own use. Her profit or loss during the period was A $9,500 loss B $1,500 loss C $7,500 profit D $17,500 profit
A sole trader had opening capital of $10,000 and closing capital of $4,500. During the period, the owner introduced capital of $4,000 and withdrew $8,000 for her own use. Her profit or loss during the period was A $9,500 loss B $1,500 loss C $7,500 profit D $17,500 profit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A sole trader had opening capital of $10,000 and closing capital of $4,500. During the period, the owner
introduced capital of $4,000 and withdrew $8,000 for her own use.
Her profit or loss during the period was
A $9,500 loss
B $1,500 loss
C $7,500 profit
D $17,500 profit
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please can you explain the calculation behind this that lead to the conclusion that the loss is £1,500
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