A new business starts up as a limited company called Sunrise Ltd by raising 10,000 from its

Question:

A new business starts up as a limited company called Sunrise Ltd by raising £10,000 from its owners, i.e. its shareholders. It puts this money into a new bank account. What would be the asset(s) and liability(ies)?

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

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 9780273658597

3rd Edition

Authors: Anne Britton, Christopher Waterston

See More Books

Question Posted: Jun 11, 2024 01:01 AM

See More Questions

Reference: On May 3, 2016, Thomas Andrews, a young investment banker, was examining the current situation of ChimpChange Limited (ChimpChange), a financial technology (fintech) start-up based in...
Hi, I have an Assignment for my Finance Subject. I have attached the necessary documentation here for you to view including the Lecture slides of all the Topics covered for this assignment. Please...
QUIZ... Let D be a poset and let f : D D be a monotone function. (i) Give the definition of the least pre-fixed point, fix (f), of f. Show that fix (f) is a fixed point of f. [5 marks] (ii) Show that...
Suppose the total cost in dollars of manufacturing q units is C(q) = 3q 2 + q + 500. a. Use marginal analysis to estimate the cost of manufacturing the 41st unit. b. Compute the actual cost of...
Draw, by hand, a rough sketch of the graph of each function. (a) y = sin x (b) y = tan x (c) y = ex (d) y = ln x (e) y = 1/x (f) y = | x | (g) y = sx (h) y = tan-1 x
Print a list of your nominal accounts. At this point after taking a backup on the disk marked exercises inform your lecturer that you are now ready to set up all the accounts for the case study.
Apply the eight-step process discussed in this section to a decision you are currently grappling with. Now, ask yourself some tough questions: Are you being realistic and honest with yourself about...
One thousand liters of a 95 wt% glycerol5% water solution is to be diluted to 60% glycerol by adding a 35% solution pumped from a large storage tank through a 5-cm ID pipe at a steady rate. The pipe...
Required information [The following information applies to the questions displayed below.) Population .Size = 10,000 items Book value = $8,000,000 . Tolerable misstatment = $300,000 Sample Size = 100...
Sunrise Ltd then uses 6,000 of its bank account to buy a delivery van. List the asset(s) and liability(ies) after this transaction.
List three sources of funds for a typical business. You may find it helpful to think about your present or past employer, or another business you know of.
Suppose that the value of a banks assets is $40 billion and the value of its liabilities is $36 billion. If the bank has a 2% ROA, then what is its ROE?
You have added 15 songs to a Spotify playlist. You have 3 classic rock songs, 7 pop songs, and 5 country songs. You can play 4 songs on your walk to school. What is the probability that you hear 2...
a b Solve a) (725.25)10=(?)2=(?)16 b) (111100111110001)2= (?) 8 = (?) 16 Build the equation Y=AB+ CD + E to realize using a) NAND Gates b) NOR Gates Construct and describe Full Adder with neat logic...
With such a high base rate, you are confident about the chance of hiring and have posted the job ad based on a prior job analysis. Listed below are the final applicants and their profile of four key...
Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Determine the cost assigned to the ending inventory using FIFO. 1 Date...
A company may go through organizational change at various stages in its life cycle for a variety of reasons. Reasons can include a change in ownership as well as a change in the competitive...
What do you think of the business practice of charging customers different prices for essentially the same good? Can you list some examples where you see this practice?
In the synthesis of the keto acid just given, the dicarboxylic acid decarboxylates in a specific way; it gives Explain. HO rather than HO
Marigold industries had the following inventory transactions occur during 2020: 2/1/20 Purchase 51 units @ $46 cost/unit 3/14/20 purchase 98 units @ $49 cost/unit 5/1/20 purchase 68 units @ $53...
In this investment portfolio simulation, you and the bean counters, will invest and manage a fictitional amount of $ 1 , 0 0 0 , 0 0 0 during next three weeks. The simulation includes two fictitional...
Roberson Corporation uses a periodic inventory system and the retail inventory method. Accounting records provided the following information for the 2018 fiscal year: Cost Retail Beginning inventory...

A new business starts up as a limited company called Sunrise Ltd by raising 10,000 from its

Question:

Step by Step Answer:

Financial Accounting

Students also viewed these Business questions