For the Financial Year Ending 30 June,Sunset Ltd Had a Beginning

question 26

Multiple Choice

For the financial year ending 30 June,Sunset Ltd had a beginning balance for equity of $180 000 and an ending balance of $175 000.During the year the owner withdrew $120 000 for private use.How much profit did Sunset Ltd earn during the year?

• A) $5 000
• B) $115 000
• C) $125 000
• D) $60 000

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