Question
List of balances are given as follows: Motor Vehicle $65,000; Closing Inventory $2,500; Bank overdraft 1,230; Cash balance $1,050; Trade Payables $1,900; Term Loan $5,000.
List of balances are given as follows: Motor Vehicle $65,000; Closing Inventory $2,500; Bank overdraft 1,230; Cash balance $1,050; Trade Payables $1,900; Term Loan $5,000. What is the amount of capital? Required to answer. Single choice.
(2 Points)
A. $62,880
B. $61,650
C. $60,600
D. $60,42
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Financial Accounting
Authors: Michael J. Jones
2nd Edition
1119977150, 978-1119977155
