Question
On april 1, 2018, Miranda sets up a firm and brings in office equipment of 50,000 inventory of 30.000 to the business. Ms Miranda puts
On april 1, 2018, Miranda sets up a firm and brings in office equipment of 50,000 inventory of 30.000 to the business. Ms Miranda puts 80,000 into a firm's cash box and 100,000 into the firms bank account. Meanwhile, the firm lends 50,000 cash to SJ and Associates and borrows from the bank to acquire a piece of premises. What is the amount of the firm's capital on April 1, 2018
Choices:
A. 510,000
B. 201,000
C. 260,000
D. 460,000
Correct answer
C. 260,000
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Financial Accounting
Authors: Jeffrey Waybright, Robert Kemp, Sherif Elbarrad
2nd Canadian edition
133375536, 9780133845396, 133845397, 978-0133375534
