The Following Amounts Have Been Paid Out of the Business

question 15

Multiple Choice

The following amounts have been paid out of the business bank account. Purchase of motor car £7 000, petrol and car expenses £1 300, wages £4 500, £9 000 paid in by the owner, money taken out by the owner, £1 000, money from sales £9 000, purchases of goods resold £4 000, rent of premises £3 000.
- what should be recorded as the profit or loss and the change in equity over the period?

• A) Loss of £3 800 change in equity £9000
• B) Loss of £3 800 change in equity £8000
• C) Loss of £4 800 change in equity £9000
• D) Loss of £4 800 change in equity £8000
• E) None of the above

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