The following details were extracted from the books of Omino enterprises for the year ended 31st dec 2009
Opening capital sh. 105,000
Capital introduced sh 15,000
Drawings sh. 6,000
Closing capital sh. 135,000
Determine the profit or loss for the year.


Answer:

Solution:
Net profit=(Closing capital+drawings-opening capital - additional capital)
=>sh(135000+6000-105000-15000)
=sh. 210,000


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