Julio's opening capital at 1 July 2011 was $50 000, his profit for the year was
$18 000 and his drawings were $15 000. What is the final balance of his capital at the end of the year?
A) $68 000
B) $50 000
C) $83 000
D) $53 000
Correct Answer:
Verified
Q24: If income is $180 000, rent expense
Q25: In order to assess an entity's cash
Q26: A balance sheet would normally balance at:
A)
Q27: Which of these is not an alternative
Q28: _ is/are resources controlled by the entity
Q30: Which of these is not income?
A) Receipts
Q31: Which of these is not an alternative
Q32: Which of these is not a liability?
A)
Q33: The income statement reports the financial:
A) position
Q34: Users of accounting information want to know
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