Cumvi Traders had a capital of sh 180,000 as at 31.12.1998 Additional information a) during the year the owner converted her private car worth 90,000 for business...

      

Cumvi Traders had a capital of sh 180,000 as at 31.12.1998
Additional information
a) during the year the owner converted her private car worth 90,000 for business use
b) Goods worth sh. 50,000 were taken from the business for her own use
c) Net profit for the year was sh 140,000
Calculate capital as at 31 Dec. 1999

  

Answers


Kavungya
Capital =initial capital + net profit + additional investment – drawings
= 180, 000 + 140,000 + 90,000 – 50,000
= 410,000 – 50,000
= 360,000
Kavungya answered the question on March 27, 2019 at 09:17


Next: The following balances were obtained from the books of Rah traders Opening stock 50,000 Sales 360,000 Gross...
Previous: What is meant by the following terms: Radioactive decay and isotope.

View More Business Studies Questions and Answers | Return to Questions Index


Exams With Marking Schemes

Related Questions