What tom drawings during the year were

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Reference no: EM132724926

Tom set up a business on 1 January. He bought Non-current assets costing £53,000 and Inventory costing £6,600. He had financed these in advance of commencing business with a personal loan of £25,000 from his brother and a business loan from a bank. On 31 December of the same year his net assets totalled £37,200. His net profit for the year was £21,100.

Problem 1: Tom's drawings during the year were:

Reference no: EM132724926

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