The estimated profit or loss for a period is calculated by
Closing capital less opening capital add drawings
Opening capital less closing capital add drawings
Opening capital less drawings add closing capital
Opening capital add closing add drawings
Correct answer is A
No explanation has been provided for this answer.
#2,000
#14,000
#20,000
#30,000
Correct answer is D
closing capital - opening capital + drawings
64,000 - 50,000 - 16,000 = 30,000
#8,700
#9,500
#9,700
#10,700
Correct answer is C
capital = assets - liabilities
8,000 +10,500 + 3500 - 2500 - 9800 = 9700
#5,700
#7,700
#9,800
#14,900
Correct answer is B
No explanation has been provided for this answer.
The total cash and cheques received from customers in a control account is derived from the
Purchases day book
Cash book
Income and expenditure account
Sales journal
Correct answer is B
No explanation has been provided for this answer.