The net assets of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to 31 December 20X2 Altese introduced a further $50,000 of capital and made drawings of $48,000. At 31 December 20X2 Altese's net assets totalled $184,000. What is Altese's total profit or loss for the year ended 31 December 20X2?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The net assets of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to
31 December 20X2 Altese introduced a further $50,000 of capital and made drawings of $48,000. At
31 December 20X2 Altese's net assets totalled $184,000.
What is Altese's total profit or loss for the year ended 31 December 20X2?
Transcribed Image Text:The net assets of Altese, a trader, at 1 January 20X2 amounted to $128,000. During the year to 31 December 20X2 Altese introduced a further $50,000 of capital and made drawings of $48,000. At 31 December 20X2 Altese's net assets totalled $184,000. What is Altese's total profit or loss for the year ended 31 December 20X2?
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