Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 12 --15 Mr Blond is starting a business. Before actually starting to sell anything, he bought IT equipment for 4,800, a van for 8,000

image text in transcribed

Question 12 --15 Mr Blond is starting a business. Before actually starting to sell anything, he bought IT equipment for 4,800, a van for 8,000 and inventory for 3,200. He has paid for the IT equipment in full but he has a acquired a loan for the full value of the van. He still owes 2,400 for the inventory. He has 200 cash in hand and 275 left in his business bank account. How much capital has he invested in the business? 1 6,075 2 14,075 3 8,475 4 5,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Information Systems

Authors: Patrick R. Wheeler, Ulric J. Gelinas, Richard B. Dull, Dull Gelinas Wheeler

International 10th Edition

017035539X, 9780170355391

More Books

Students also viewed these Accounting questions

Question

Is there any formal training for teaching?

Answered: 1 week ago