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The statements of financial position of Goh's business showed the following:
30 june 2014 30 june 2015
Net assets $152000 $ 184000
During the year ended 30 June 2015, Goh brought his own motor car into the business at the value of $14 000. The net book value of this motor car at 30 June 2015 was $13 200. He also withdrew $7900 cash from the business bank account.
Question 1: What was the profit for the year ended 30 June 2015?
A. $25 900 B. $26 700 C. $37 300 D. $38 100
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The investment will earn 6% compounded annually. At the end of five years, she will need a total of $40,000 accumulated. Explain how should she compute her required annual invest-ment?
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