9706/13 Accounting Otc Nov 2024 Online Test | Cmbridge AS & A Level MCQ
At the start of the year the balance on a sole trader’s capital account was $183 000.
During the year the following took place.
1. The owner introduced a motor vehicle into the business. This had a cost of $90 000 and had a market value of $74 000.
2.The owner took cash drawings of $15 000.
3. The owner took inventory for personal use. This had a cost of $24 000 and a selling price of $32 000.
After recording these and the profit for…