On 1 January 2021 the net assets of Fatimas business amounted to 74,000. During the...
90.2K
Verified Solution
Link Copied!
Question
Accounting
On 1 January 2021 the net assets of Fatimas business amounted to 74,000. During the year ended 31 December 2021, her business recorded a profit of 33,000, Fatima withdrew 26,000 to cover personal living costs, and she also invested an additional 7,500 into her business. What were the net assets of Fatimas business as at 31 December 2021?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
