In single entry and incomplete records, the net assets method used to ascertain profit is
-
net asset at the end of a period - net assets at the begining of a period = profit + additional capital - drawings
- net asset at the end of a period - net asset at the beginig of a period = profit - additional capital - drawings
- net asset at the end of a period - net asset at the begining of a period - drawings
- net asset at the end of a period + additional capital - drawings