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28/02/18 28/02/17 N/C-A 792k-760k C-A 416k-280k NC-L 384k-400k C-L 48k-64k capital contrb. unchanged. Drawings R50 000.What’s net profit?

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Accounting Financial Accounting Finance
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Question added by Sholene Ramchuran
Date Posted: 2019/02/01
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Saji George
by Saji George , Finance Manager , MOUNT OF LIGHT MEDICAL COMPANY LTD

Asset - Liability = capital

(760+280) - (400+64) = 1040-464  = 576K

CA = 32 + 136 = 168

CL = 16+ 16 = 32

TOTAL ASSET = CAPITAL+ LIABILITY+ PROFIT-DRAWINGS

792 + 416 =( 576+ 384 + 48 + 50)

1208 + 1058 = 150 K

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