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A proprietor started business with #13,000. Assets and liabilities at the end of the ...

A proprietor started business with #13,000. Assets and liabilities at the end of the year; fixed assets #8,800, stock #, 600, debtors #1,000, cash #3, 000 and creditors #1,000. Determine the profit for the year?
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  • A #2,400
  • B #3,000
  • C #9,800
  • D #1,400
Correct Answer: Option D
Explanation:

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