Given:
Capital at the beginning...............N20000
Drawings.............................N3000
Capital..............................N30,000
New capital introduced.................N8000

What is the profit for the period?

Similar Questions

The prime cost is the total of the? ...

Which accounting concept supports the assertion that economic reality takes precedence over legal is...

Tunde purchased goods from Femi by cash worth N1000 with 10% cash discount. Tunde's ledger contr...

Which of these is not method of stock valuation? ...

In converting a partnership into a limited liability company, the necessary accounts to be opened in...

In the operation of an imprest of petty cash, the ...

Use the following information to answer the question \(\begin{array}{c|c} \text{Unpresented che...

N Bank account 59,410 Capital account 50,000 Purchase account 20,000 Rent 2,500 Stationery 90 ...

In a system of incomplete records, the opening capital is determined by preparing ...

Determine the closing stock. ...