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Wanjau started a business with sh. 60,000 as at 1^st Jan 2010. During the year profits and additional investments were sh. 50,000 and 60,000...

Wanjau started a business with sh. 60,000 as at 1^st Jan 2010. During the year profits and additional investments were sh. 50,000 and 60,000 respectively. At the end of the year Wanjau remembered that she had taken goods for her personal use and that as at 31^st Dec.2010 her capital was sh. 19,500.
Determine the value of goods that Wanjau had taken for her personal use.

Answers

Closing Capital = Opening Capital + Additional Investment + Profit – Drawings
19,500 = 60,000 + 50,000 + 60,000 – D
=170,000 – 19,500
=150,500

Kavungya answered the question on September 25, 2019 at 07:34

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