Question
Sajid had net assets of 40,350 at 31 October 2019. During the year to 31 October 2020, profits were 28,410 and Sajid's drawings were
Sajid had net assets of 40,350 at 31 October 2019. During the year to 31 October 2020, profits were 28,410 and Sajid's drawings were 24,500. Sajid did not put any additional capital into the business. What was the balance on Sajid's capital account at 1 November 2020? (Enter the value with no E sign, minus sign, comma or decimal places.) Answer:
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
