Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer the following questions. For money amounts, round your answer to the nearest dollar. Do not include $. Do not use comma separators. Do not

image text in transcribed

Answer the following questions. For money amounts, round your answer to the nearest dollar. Do not include $. Do not use comma separators. Do not use negative numbers nor brackets. For example, 123456 would be the correct format. 1. At 1st July 2020, Mary's Roses had assets and liabilities worth $20,000 and $10,000 respectively. At 30th June 2021, the assets and liabilities of Mary's Roses were $30,000 and $15,000 respectively. a. (1 mark) Mary's capital balance on 1st July 2020 is b. (1 mark) Mary's capital balance on 30th June 2021 is of C. (2 marks) If Mary did not make any capital contributions or withdraw any money from the business, she made a (input a positive number) for the year ended 30 June 2021. 2. (2 marks) At 1st July 2020, Mary's Roses had assets and liabilities worth $20,000 and $10,000 respectively. At 30th June 2021, the assets and liabilities of Mary's Roses were $30,000 and $15,000 respectively. If Mary had contributed $2,000 during the financial year, she made a (input a positive number) for the year ended 30 June 2021. of 3.(2 marks) At 1st July 2020, Mary's Roses had assets and liabilities worth $20,000 and $10,000 respectively. At 30th June 2021, the assets and liabilities of Mary's Roses $30,000 and $15,000 respectively. If Mary had withdrawn $2,000 during the financial year, she made of (input a positive number) for the year ended 30 June 2021

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions