Question
An entity has the following owner’s equity, drawings and assets: Capital N$120 000; withdrawals N$25 000; Furniture’s N$25 000, Bank N$50 000; Inventory N$15 000;
An entity has the following owner’s equity, drawings and assets:
Capital N$120 000; withdrawals N$25 000; Furniture’s N$25 000, Bank N$50 000; Inventory N$15 000; Receivables N$10 000.
What is the liabilities amount?
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South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
39th Edition
978-1305399884
