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QUESTION 4 (15) Monica runs a design consultancy business from her home in Wales. She has a computer that she uses only for business with
QUESTION 4 (15) Monica runs a design consultancy business from her home in Wales. She has a computer that she uses only for business with a value, for accounting purposes, of R7,500. In addition, she has other items of computer and office equipment with a value for accounting purposes of R2,000. At her year-end, 31 March, Monica is owed R3,000 by a client. Her business bank account has a balance of R3,500. In addition, she owes Inteligex R1,500. Monica has a subscription to a EBIAC3A Practical Assignment 2021-1 Page 2 of 3 designers' web platform, which costs R700 per year. At the year-end she has not yet paid this amount, so it is a liability. Required: Draw up Monica's statement of financial position at 31 October, calculating and showing the amount of her capital at that date
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