........................1/7/2005............30/6/2006
Drawings.....................................N3 000
Capital.................25 000...............N42 500
Furniture...............6 500...............N10 200
Additional capital during the year amounts to 300% of the drawings.
Calculate the net profit or loss made during the year.
N15,100 profit
N15,100 loss
N11,500 profit
N11,500 loss
Correct answer is D
No explanation has been provided for this answer.