The balance sheets of Terry Ukov,sole trader,showed the following.
30 June
2015 2016
Capital T.Ukov $150 000 $200 000
The profit for the year ended 30 June 2016 was $60 000.During the year additional capital of $10 000 was contributed in cash.Drawings in cash were made weekly.The amount of drawings for the year is:
A) $40 000.
B) $60 000.
C) $20 000.
D) $50 000.
Correct Answer:
Verified
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