Question
Ayne has been in business as a self employed dog groomer for manyyears. She has never operated a double-entry accounting system.She is currently trying to
Ayne has been in business as a self employed dog groomer for manyyears. She has never operated a double-entry accounting system.She is currently trying to prepare her accounts for the year ended 31December 2019.
Her bank statement for the year shows an opening balance of€4,000.
At 1 January 2019 she had the following assets and liabilities:
| Inventory | €2,000 | ||||
| Trade Receivables | €500 | ||||
| Trade Payables | €1,000 | ||||
| Rent Prepaid | €250 | ||||
| Electricity accrual | €100 | ||||
| Bank Loan | €5,000 | ||||
| Van & equipment NBV | €6,000 | ||||
What is Jayne's opening capital at 1 January 2019?
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Accounting
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
9th edition
1118608224, 1118608227, 730323994, 9780730323990, 730319172, 9780730319177, 978-1118608227
