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David's Revenue for 20X4 Was £118 800 and His Net

Question 6

Multiple Choice

David's revenue for 20X4 was £118 800 and his net profit percentage was 16.5%.His opening capital balance was £15 557 and his drawings for the year were £17 900.He did not introduce any further capital during 20X4.What was David's closing capital balance at the end of the 20X4 financial year?


A) £19 602
B) £13 855
C) £17 259
D) £18 124

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