Homework Answers
Answer :
By using the owner's equity approach :-
opening capital + investment + profit (loss) - Drawings = closing capital
Therefore
(Amount in $)
| 2021 | 2022 | 2023 | |
| Mary capital at January 1 | 0 | 24,000 | 34,400 |
| Investment in the year | 19,200 | 0 | 6,400 |
| Profit (loss) for the year | 12,000 | 20,000 | 18,400 |
| Drawings in the year | 7,200 | 9,600 | 12,000 |
| Mary capital at December 31 | 24,000 | 34,400 | 47,200 |
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question please help, I have also listed the accounts I'm allowed
to use.
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to use.
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