Determine the net profit _______?

Given:

Opening capital – #50,000
Closing capital – #64,000
Drawings – #16,000

A. #2,000
B. #14,000
C. #20,000
D. #30,000

Correct Answer:

Option D – #30,000

Explanation

closing capital – opening capital + drawings

64,000 – 50,000 – 16,000 = 30,000