Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A Ltd's capital balance at start (1 June 20X3) was 6,000. The business transactions during the month were: Inventories purchased on credit for 150. Sale

A Ltd's capital balance at start (1 June 20X3) was 6,000. The business transactions during the month were: Inventories purchased on credit for 150. Sale of goods for cash 470 (the goods had cost 180). Receipt of bill for the rent for the month of June of 100. Cash received from credit customers of 190. Owner takes goods which had cost 50 out of the business for her own use. Payment of credit suppliers of 200. Required: What is the balance of the business's capital at 30 June 20X3?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the balance of the businesss capital at 30 June 20X3 we need to consider the various tr... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting

Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton

7th Edition

978-1760421144, 1760421146

More Books

Students also viewed these Accounting questions

Question

Describe the three roles required to provide and use Web services.

Answered: 1 week ago