Question
At their year-end Sherwood Ltd reported the following balances in their statement of financial position: Non-current assets: 530,000 Current assets: 225,000 Current liabilities: 175,000 Non-current
At their year-end Sherwood Ltd reported the following balances in their statement of financial position:
| Non-current assets: | 530,000 |
| Current assets: | 225,000 |
| Current liabilities: | 175,000 |
| Non-current liabilities: | 70,000 |
| Retained earnings: | 460,000 |
What was the value of ordinary share capital at the year-end?
| A. | 50,000 | |
| B. | 970,000 | |
| C. | 560,000 | |
| D. | 510,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Company Accounting
Authors: Ken Leo, Jeffrey Knapp, Susan McGowan, John Sweeting
11th Edition
0730344770, 9780730344773
