In a situation of incomplete records, profit is determine...
In a situation of incomplete records, profit is determined as
Closing capital drawings opening capital
Closing capital- drawings-opening capital
Closing capital drawings - opening capital
Closing capital drawings + opening capital
Correct answer is C
No explanation has been provided for this answer.
\(\begin{array}{c|c} July & 1 & \text{cash in hand, N420, Cash at Bank} & N6,500 \\ &...
At the end of a financial period, the trading profit and loss account of a sole trader shows...
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