Carole has the following assets and liabilities on 31 August 20*8: Machinery at cost 120,000; vehicles at

Question:

Carole has the following assets and liabilities on 31 August 20*8:
Machinery at cost £120,000; vehicles at cost £70,000; stock £20,000; debtors £10,000; creditors £8,000; bank balance £2,000.

Required

Calculate the amount of Carole’s capital at 31 August 20*8.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Introducing Accounting For AS

ISBN: 9780340959404

2nd Edition

Authors: Ian Harrison

See More Books

Question Posted: Aug 21, 2023 09:46 AM

See More Questions

Atul has the following assets and liabilities on 31 December 20*8: Premises at cost 60,000; equipment at cost 25,000; stock 5,000; debtors 4,000; creditors 8,000; money owed to the bank 6,000....
J. Hill has the following assets and liabilities as on 30 November 20X9: Creditors 2,800; Equipment 6,200; Car 7,300; Stock of goods 8,100; Debtors 4,050; Cash at bank 9,100; Cash in hand 195. You...
The normalized earnings after tax for FAMCO is closest to A. $32,940,000. B. $34,260,000. C. $34,860,000. The senior vice president of acquisitions for Northland Industries, Angela Lanton, and her...
Kiki purchases a $16,000 bond from Green Corp. on January 1, 2021. The bond has a 10% annual interest rate. On December 1, 2021, Kiki gifts the bond to her son, Branson. How much income is reported...
What relevance do political costs have to accounting changes?
Airlines have long used database technology to monitor capacity and maximize revenue by charging different prices to almost every passenger on a given flight. To what extent can other industries...
1 How does competitive product advertising differ from competitive institutional advertising?
Lionel is negligently driving an automobile at excessive speed. Reginalds negligently driven car crosses the centerline of the highway and scrapes the side of Lionels car, damaging its fenders. As a...
Cullumber Inc. produces three separate products from a common process costing $100,600. Each of the products can be sold at the split-off point or can be processed further and then sold for a higher...
The following information is provided by Sandeep, a painter and decorator, at 31 January 20*8: Capital 4,300; vehicle at cost 8,000; tools at cost 250, bank loan repayable in four years time 4,000;...
Classify the following items into fixed assets, current assets and current liabilities for a garage: Electronic tuning equipment Money owed to BP plc Second-hand cars on forecourt Typewriters...
Five years ago you took out a $300,000, 25-year mortgage with an annual interest rate of 7 percent and monthly payments of $2,120.34. What is the outstanding balance on your current loan if you just...
Find the best predicted tip for a ride that is 3.10 miles. How does the result compare to the actual tip of $4.55? Find the best predicted fare amount for a distance of 3.10 miles. How does the...
Since the SUTA rates changes are made at the end of each year, the available 2022 rates were used for FUTA and SUTA. Note: For this textbook edition the rate 0.6% was used for the net FUTA tax rate...
I have asked three questions with my textbook chapter in which they come from. it would be greatly appreciated if you could help me answer these three questions. Thanks so much. :) 1. What is the...
From your reading in Stevens & Smith (2010), a basic description of a medical detoxification, dual-diagnosis inpatient hospital, independent rehab programs, partial hospitalization, halfway houses,...
A 12-kg piece of metal displaces 2 L of water when submerged. Show that its density is 6000 kg/m3. How does this compare with the density of water?
2.) Find the Laplace transform of f(t) 7e-St cos 2t +9 sinh2 2t. Use Laplace Table. %3D
Carriage outwards is added to purchases. True/False?
Carriage inwards is deducted from sales revenue. True/False?
Purchases returns are also known as returns outwards. True/False?
Fig 1. Rolling a 4 on a D4 A four sided die (D4), shaped like a pyramid (or tetrahedron), has 4 flat surfaces opposite four corner points. A number (1, 2, 3, or 4) appears close to the edge of each...
I just need help with question #4 please! Thank you! Windsor Manufacturing uses MRP to schedule its production. Below is the Bill of Material (BOM) for Product A. The quantity needed of the part...
(25) Suppose that we have an economy consisting of two farmers, Cornelius and Wheaton, who unsurprisingly farm corn c and wheat w, respectively. Assume that both farmers produce their crop of choice...

Carole has the following assets and liabilities on 31 August 20*8: Machinery at cost 120,000; vehicles at

Question:

Step by Step Answer:

To calculate Caroles capital at 31 August 208 we nee...View the full answer

Introducing Accounting For AS

Students also viewed these Business questions