Given: Capital at the beginning...............N20 000 Drawings...............................N3 000 Capital................................N30 000 New capital introduced.................N8 000 What...

JAMB 1997

Given:
Capital at the beginning...............N20 000
Drawings...............................N3 000
Capital................................N30 000
New capital introduced.................N8 000

What is the profit for the period?

A. N4 000
B. N5 000
C. N6 000
D. N8 000

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Correct Answer: Option B

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