1. At the end of the year the capital of a business was $33000, at the beginning of the year the capital was $28000. During the year the owner withdrew from personal use $2000. What was his net profit for this year?
2. An article is subject to a 20% trade discount. Its list price is $600. What is it's sale price?
3. The account which disclosed the gross profit or loss is called the___.
4. the net profit of a firm was shown as $1600 and it was later discovered that discounts received were under cash by $10 and purchases were understated by $36. What was the corrected net profit?
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