The following information relates to Buda traders
Capital on 1st jan 2015 sh 700000
Drawing during the year sh 80000
Investments during the year sh 460 000
Capital on 31 st December 2015 sh. 900000
Required: determine the net profit or net loss of the business


Answer:

Solution:
Closing capital=Opening capital+Net loss+Annual investments-Drawings
900000=700000-NL+460000-80000
NL=1,080,000-900000
Net loss=180,000


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