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Leo Vu offers tutoring services to first-year university students. He has set up a sole proprietorship business named 'L Tutoring'. Leo has collected the following

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Leo Vu offers tutoring services to first-year university students. He has set up a sole proprietorship business named 'L Tutoring'. Leo has collected the following information relating to his business activities for the year ending 30 June 2021. Office supplies $ 3,500 Accounts receivable $4,200 Office supplies 1,500 Bank loan 9,000 expense Telephone expense 300 Accounts payable 2,350 Motor vehicle 450 Cash at bank 12,500 expense Computer 12,300 Advertising expense 800 equipment Tutoring income 15,000 Rent expense 1,200 600 Capital, 1 July 2020 4,500 Drawings Using the above information calculate the following: a) Total assets as at 30 June 2021. (2marks) b) Total liabilities as at 30 June 2021. (2marks) C) Net assets as at 30 June 2021. (2 marks) d) Leo Vu's capital balance as at 30 June 2021 (4marks)

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