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Question 1: winn LTD has opening trade payable of $24183 and closing trade payables of $34 ,655.purchases for the period totalled $254192($31590 relating to cash purchases).Total payments recorded in the payables ledger for the period were.
A. $212130
B.$233074
C.$243720
D.$264664
Question 2: A sole trader had opening capital of $10000 and closing capital of $4500. During the period,the owner introduced capital of $ 4000 and withdrew$8000 for her own use. Her profit or loss during the period was
A.$9500 loss
B.$1500 loss
C.$7500 profit
D.$ 7500 profit
Question 3: Amy is a sole trader and had assets of $569400 and liabilities of $412840 on 1 January 2018. During the year ended 31 December 2018 she paid $65000 capital into the business and she paid herself wages of $800 per month .At 31 December 2018 ,Amy had assets of $614130 and liabilities of $369770.
What is Amy's profit for the year ended 31 December 2018?
A.$32400
B.$23600
C.22800
D.87800
What is the amount of the gain or loss on the transaction? (and please be sure to write the word "gain" or "loss" after your dollar answer)
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