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Shaun had net assets of $13,000 at 30 September 20X6. During the year to 31 August 20X7, he introduced $9,800 additional capital into the business. Profits were $8,000, of which he withdrew $4,200.
What was the balance on Shaun’s capital account at 31 August 20X7?Thank you
Why are you attempting a question for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers – it has answers and explanations.
You need to use the accounting equation which is explained (with examples) in the free lectures working through Chapter 2 of our free lecture notes.
The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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