Daniel Howell
01/03/2024 · Middle School
Manfred's business has net assets at 1 July 20X3 and 30 June 20X4 of \( \$ 56,750 \) and \( \$ 63,260 \) respectively. During the year, Manfred introduced capital of \( \$ 5,000 \) and made drawings of \( \$ 175 \) per week. What profit or loss was made by Manfred's business in the year ended 30 June 20X5? Answer a. Profit of \( \$ 10,610 \) b. Profit of \( \$ 2,410 \) c. Loss of \( \$ 10,610 \) d. Loss of \( \$ 2,410 \)
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Profit of $2,410.
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