Given:
Opening capital – #50,000
Closing capital – #64,000
Drawings – #16,000
Determine the net profit
-
A.
#2,000 -
B.
#14,000 -
C.
#20,000 -
D.
#30,000
Correct Answer: Option D
Explanation
closing capital – opening capital + drawings
64,000 – 50,000 – 16,000 = 30,000