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 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:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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:

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