Exercise (14-3) page 336 A person owns a shop with the following assets and liabilities: Assets: 800,000 fixed assets - 120,000 goods - 91,000 debtors 60,000 cash 100,000 bank account 70,000 notes receivables - 20,000 trading stocks - 5,000 accrued revenues - Liabilities: 150,000 creditors - 18,000 notes payables 20,000 short term loans including 5,000 interest 30,000 unearned revenues 25,000 accrued expenses Market value of goods and stocks is 150,000 and 30,000 respectively There are 6000 riyals bad debts and 15,000 riyals doubtful debts The current account includes 10,000 riyals trust for others Annual rent of fixed assets is 5,000 riyal which represents the accrued revenues There are living expenditures of 15,000 riyals covered by other sources of income The market value of gold is 40 riyals Exercise (14-3) page 336 A person owns a shop with the following assets and liabilities: Assets: 800,000 fixed assets - 120,000 goods - 91,000 debtors 60,000 cash 100,000 bank account 70,000 notes receivables - 20,000 trading stocks - 5,000 accrued revenues - Liabilities: 150,000 creditors - 18,000 notes payables 20,000 short term loans including 5,000 interest 30,000 unearned revenues 25,000 accrued expenses Market value of goods and stocks is 150,000 and 30,000 respectively There are 6000 riyals bad debts and 15,000 riyals doubtful debts The current account includes 10,000 riyals trust for others Annual rent of fixed assets is 5,000 riyal which represents the accrued revenues There are living expenditures of 15,000 riyals covered by other sources of income The market value of gold is 40 riyals