\begin{tabular}{l} (iii) Capital: R120 000; Drawings: R9 000; Income: R45 098 and Expenses: R76 908. \\ \hline (f) Calculate how much the owner in the following situation withdrew throughout the year. \\ Capital: R150 000; Income: R30 000; Expenses: R10 000; Assets: R200 000; Liabilities: R45 000 . \\ \hline\end{tabular}
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Let's break it down in a fun and engaging way! In the first case, the owner's total capital after considering the income and expenses would be calculated as follows: Capital at the start: R120,000 + Income: R45,098 - Expenses: R76,908 = R88,190. To find out how much was withdrawn, we subtract the closing capital from the starting capital: Withdrawal = Starting Capital - Closing Capital = R120,000 - R88,190 = R31,810. Now, for the second situation, the owner has a starting capital of R150,000. After accounting for income (R30,000) and expenses (R10,000), we find the owner's new capital: Closing Capital = Starting Capital + Income - Expenses = R150,000 + R30,000 - R10,000 = R170,000. Now, if we factor in the liabilities, we have: Net Capital = Assets - Liabilities = R200,000 - R45,000 = R155,000. Thus, the withdrawals can be calculated as: Withdrawals = Starting Capital - Net Capital = R150,000 - R155,000 = -R5,000 (indicating no withdrawals, instead an injection of R5,000). There you have it, withdrawals calculated with a sprinkle of financial fun! Keep those calculators handy!
