1. At the end of the year the capital of a business was $33000, at the beginning of the year the capital was $28000. During the year the owner withdrew from personal use $2000.What was his net profit for this year?

2. An article is subject to a 20% trade discount. Its list price is $600. What is it’s sale price?

3. The account which disclosed the gross profit or loss is called the___.

4.the net profit of a firm was shown as $1600 and it was later discovered that discounts received were under cash by $10 and purchases were understated by $36.What was the corrected net profit?