Question
The following lists of assets and liabilities were obtained from the books of JJ Smith as at December 2014. a. Calculate the total fixed assets
The following lists of assets and liabilities were obtained from the books of JJ Smith as at December 2014.
a. Calculate the total fixed assets
b. Calculate the net worth of the business
| land and buildings | 200 000 |
| Capital | 200 000 |
| Creditors | 25 000 |
| Stock | 50 000 |
| Loan from bank | 65 000 |
| Debtors | 13 000 |
| Motor van | 25 000 |
| Cash at bank | 2 000 |
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Gordon Roberts, Hamdi Driss
8th Canadian Edition
01259270114, 9781259270116
