O Level Accounting (7707)•7707/12/M/J/25

Explanation
Capital equation requires opening balance for 2024 Steps:
- Use the formula: Profit = Closing capital - Opening capital - Additional capital + Drawings
- Closing capital = 20,000; drawings = $9,880
- Opening capital for 2024 is listed but no numerical value provided after "$"
- $50,000 is starting capital for 2023; 2023 transactions unknown, so 2024 opening cannot be determined Not enough information.
Final answer: Not enough information.
Topic: Sole traders
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