Given:
Opening capital - #50,000
Closing capital - #64,000
Drawings - #16,000
Determine the net profit
Opening capital - #50,000
Closing capital - #64,000
Drawings - #16,000
Determine the net profit
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Correct Answer: Option D
Explanation:
closing capital - opening capital + drawings
64,000 - 50,000 - 16,000 = 30,000
closing capital - opening capital + drawings
64,000 - 50,000 - 16,000 = 30,000