At December 2011 the balance on Ovie capital account
N30,000. In the year to 30th November, 2012 she
invested an additional amount of N50,000 of personal
funds and took a loan of N65,000 for the business. The
statement of profit or Loss for the year to November
30th 2012 reported a profit of N40,000 and Ovie
drawings during the year. were N25,400. What is
Ovie's closing capital balance as at 30 November
2012?
