ACCA FA2 Capital Account
At the start of the year, the balance on Toni's capital account was $20,000.During the year Toni made drawings of $16,000 and the net profit for the year was $108,000 .
What is the balance on Toni's capital account at the end of the year?
Suggested solutions
| $ | |
| Opening balance capital account | 20,000 |
| add net profit for the year | 108,000 |
| Less drawings | (16,000) |
| closing capital account | 112,000 |
To do the same topic again in ACCA FA2 Capital Account
To do another topic in ACCA FA2