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Question One (Compulsory) Manu started business with a capital of $500,000...

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Accounting

Question One (Compulsory)
Manu started business with a capital of $500,000 on 1st October, 2020. He brought further $75,000 as capital on 31 st March, 2021, his position was: Cash: $30,000; Stock: $470,000; Debtors: $350,000 and Creditors: $300,000. He withdrew $8,000 per month during this period. Calculate profit and loss for the period. (10 marks).
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