Day: October 4, 2024

Which of the following equations represents the closing capital of a sole trader?

Select ONE answer:

1. Opening capital – capital introduced + profit – drawings
2. Opening capital – capital introduced – profit + drawings
3. Opening capital + capital introduced + profit – drawings
4. Opening capital + capital introduced – loss + drawings

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct
4. Not correct

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