11-02-2005, 06:52 AM
sorry,i already know that. what i wanted was a discussion about the treatment for the calculation of profit.
Current net value of business is £91,400.00
The amount put into the business by the owner at the start of the year was £50,000.00.
The profit for the year is £41,400.00 (£91,400 - £50,000)
How would you asses the way in which profit has been calculated above?
Current net value of business is £91,400.00
The amount put into the business by the owner at the start of the year was £50,000.00.
The profit for the year is £41,400.00 (£91,400 - £50,000)
How would you asses the way in which profit has been calculated above?