Opening Capital – NBC Institute

FA – May 2018 – L1 – SA – Q16 – Correction of Errors

Calculates profit or loss for the period based on opening and closing capital and withdrawals.

Question

If opening capital was N125,000, closing capital was N137,000, and the owner’s withdrawals were N123,000, the amount of profit or loss for the period was:
A. Loss of N139,000
B. Loss of N135,000
C. Profit of N111,000
D. Profit of N135,000
E. Profit of N139,000

Answer

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Tags: Closing Capital, Opening Capital, Profit Calculation
Level: Level 1

Topic: Correction of errors
Series: MAY 2018

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FA – May 2018 – L1 – SA – Q16 – Correction of Errors

Calculates profit or loss for the period based on opening and closing capital and withdrawals.

FA – May 2018 – L1 – SA – Q16 – Correction of Errors

Calculates profit or loss for the period based on opening and closing capital and withdrawals.

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Question Tag: Opening Capital

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FA – May 2018 – L1 – SA – Q16 – Correction of Errors

Calculates profit or loss for the period based on opening and closing capital and withdrawals.

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FA – May 2018 – L1 – SA – Q16 – Correction of Errors

Calculates profit or loss for the period based on opening and closing capital and withdrawals.

You're reporting an error for "FA – May 2018 – L1 – SA – Q16 – Correction of Errors"

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