Capital at start was N280,000, while at the end of the year was N485,000 and drawings during the year was N15,000. What is profit for the year? By: Sunday|Published on: Jun 4|Categories: Accounting WAEC| 0 comments A. N265,000 B. N220,000 C. N205,000 D. N190,000 Correct Answer: Option B B. N220,000 Users Also Read These:The cost of goods sold for the year is Le200000 and…Interest on drawings is 5%, interest on capital is…Interest on drawings is 5%, interest on capital is…Debtors value as at 1st January 2000 was N40,000.…If a basket of commodities cost N120 in the base…SEE ALSO Prepaid rent of N650 had been recorded as N560. This is an error of?