Mr. John started a T-shirts business to be known as John T-shirts. He has provided you with
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Question:
Mr. John started a T-shirts business to be known as “John T-shirts”. He has provided you with the following information from his first month of operations:
N$ | |
Bank- overdraft | 15 000 |
Prepaid rent expense | 20 000 |
Accounts receivables | 35 000 |
Capital | 250 000 |
Buildings & equipment at cost | 550 000 |
Insurance | 5 000 |
Prepaid income | 55 000 |
Accounts payables | 50 000 |
Sales | 100 000 |
Accrual water & electricity | 20 000 |
Long - term loan (FNB) | 105 000 |
Long term investment | 110 000 |
Mortgage (bank Windhoek) | 135 000 |
Interest on loan | 15 000 |
Discount received | 10 000 |
Discount allowed | 5 000 |
Determine the value of non-current liabilities.
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