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The following table is the Balance Sheet of company MTR or year 20X0: Balance Sheet of 31 December 20X0 1 Cash Receivables Total Assets 2000
The following table is the Balance Sheet of company MTR or year 20X0: Balance Sheet of 31 December 20X0 1 Cash Receivables Total Assets 2000 0 2000 I Liabilities Contributed equity Retained earnings Owners' equity Total liabilities and equity 500 1250 250 1500 2000 In 20X1, the company had 300, of which 100 was credit sales, in revenue and 150 in expenses. Assuming all expenses were paid in cash and no dividend was paid out, build he income statement and the balance sheet of 20X1 for MTR
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