Dear Professor,

Please help me solve the question below. I see you have answered the question but unfortunately the answer is not among the Muliple choice answers given and I cannot seem to calculate the correct answer. Thanks

1. Jayantha commenced business on 1 January 2010 with equity of 100,000. During the year ending 31 December 2010, he paid 92,400 for purchasing goods for sale (all of which was sold) and 31,450 for various expenses. He received 139,250 by sale of goods. Jayantha has drawn 12,000 in cash and introduced a motor car to the business valued at 10,000.

What is Jayanthas equity at 31 December 2010?

1. 115,400
2. 127,400
3. 137,400
4. 113,400