Queen Traders had the following information extracted from her books of accounts as at 31st Dec 2009:- ...

      

Queen Traders had the following information extracted from her books of accounts as at
31st Dec 2009:-
Shs
Capital (1/1/009) 3,400,000
Additional capital 610,780
Drawings for the year 25,220
Capital (31/12/009) 4,900,000
Determine the profit for the year.

  

Answers


Kavungya
Closing Capital= Opening capital + Additional Capital +profit – drawings
4,900,000=3,400,000 + 610,780 +x – 25,220
x= 4,900,000 – 3,400,000 -610,780 + 25220
x= 914,440
Kavungya answered the question on April 3, 2019 at 12:02


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