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9) The following information is available about Andrew's business at 30 September 2016: Motor van $ 14,000 Loan (repayable in 4 equal installments starting 1100,000
9) The following information is available about Andrew's business at 30 September 2016: Motor van $ 14,000 Loan (repayable in 4 equal installments starting 1100,000 Jan 2017) Receivables 23,800 Payables to the Bank 3,250 Accounts Payable 31,050 Inventory 12,560 Cash on a custody in the office 150 1,200 Short-term rent due Instructions: What are the correct figures for current liabilities and current assets? 10) The following transactions relate to Max's business: 1 May Purchase of goods for resale on credit $300 $1400 2 May Max injects long-term capital into the business $750 $400 3 May Payment of rent made 5 May Max withdraws cash from the business 7 May Sales made on credit (goods originally cost $600) $1200 At the start of the week, the assets of the business were $15,700 and liabilities amounted to $11,200. Instructions: At the end of the week, what is the amount of Max's capital
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