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Tony Forkin is a sole trader in the stationery business. The balance on his Capital...

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Accounting

Tony Forkin is a sole trader in the stationery business. The balance on his Capital account at 1 January 2018 was 18,000. During the year he withdrew 4,000 in drawings and introduced additional capital of 21,000. The net assets of the business (assets less liabilities) as at 31 December 2018 amounted to 23,300. What was the loss of the business for the year ended 31 December 2018?

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