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Question#3 (5 Marks) Abdul Ghafoor had the following assets and liabilities on 1 March, 2021: Cash at bank Rs.9,720; Cash in Hand Rs.1,970; Capital Stock
Question#3 (5 Marks) Abdul Ghafoor had the following assets and liabilities on 1 March, 2021: Cash at bank Rs.9,720; Cash in Hand Rs.1,970; Capital Stock Rs. 22,450; Debtor: Ajmal Rs. 7610; Creditors: Jhang Traders Rs. 15,900; Furniture Rs. 4,150; Notes Payable Rs. 3,450; Office Supplies Rs. 1,350; Machinery Rs. 15,360; Motor vehicle Rs. 5,690; Salary Payable Rs. 1,750 and Loan from My Bank Rs. 6,780 Instructions Draw up a balance sheet of Abdul Ghafoor at March 31st, 2021 and compute his Capital Stock
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