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Chukwu's Capital at 1/1/89 and 31/12/89 were ₦30,000 and ₦50,000 respectively. Du...


Question

Chukwu's Capital at 1/1/89 and 31/12/89 were ₦30,000 and ₦50,000 respectively. During the year he introduced additional capital of ₦10,500 and withdrew ₦5,300 for private use. What is his profit for 1989?

Options

A) ₦30,500

B) ₦25,300

C) ₦20,000

D) ₦15,800

E) 14,800

The correct answer is E.


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