The following information relates to Kamongo Traders for the year ending 31st Dec. 2010. ...

      

The following information relates to Kamongo Traders for the year ending 31st Dec. 2010.

Shs.
Additional investment................................. 900,000
Drawings ..............................................300,000
Closing capital..................................... 7,000,000
Profit.............................................. 3,200,000
Required: Kamongo‘s initial capital.

  

Answers


sharon
CC - IC + A.I + NP – D
I.C = C.C + D – NP – A.I
= 7,000,000+ 300,000- 3,200,000- 900,000.
= 3,200,000.
sharon kalunda answered the question on September 4, 2019 at 12:45


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