9) The following information is available about Andrew's business at 30 September 2016: Motor van Loan...

Transcribed Image Text:

9) The following information is available about Andrew's business at 30 September 2016: Motor van Loan (repayable in 4 equal installments starting 1100,000 Jan 2017) Receivables Payables to the Bank Accounts Payable Inventory Cash on a custody in the office Short-term rent due 14,000 23,800 3,250 31.050 12,560 150 1,200 Instructions: What are the correct figures for current liabilities and current assets? 10) The following transactions relate to Max's business: I May Purchase of goods for resale on credit 2 May Max injects long-term capital into the business $1400 3 May Payment of rent made 5 May Max withdraws cash from the business 7 May Sales made on credit (goods originally cost S600) S1200 S300 $750 $400 At the start of the week, the assets of the business were $15,700 and liabilities amounted to $11,200. Instructions: At the end of the week, what is the amount of Max's capital? 9) The following information is available about Andrew's business at 30 September 2016: Motor van Loan (repayable in 4 equal installments starting 1100,000 Jan 2017) Receivables Payables to the Bank Accounts Payable Inventory Cash on a custody in the office Short-term rent due 14,000 23,800 3,250 31.050 12,560 150 1,200 Instructions: What are the correct figures for current liabilities and current assets? 10) The following transactions relate to Max's business: I May Purchase of goods for resale on credit 2 May Max injects long-term capital into the business $1400 3 May Payment of rent made 5 May Max withdraws cash from the business 7 May Sales made on credit (goods originally cost S600) S1200 S300 $750 $400 At the start of the week, the assets of the business were $15,700 and liabilities amounted to $11,200. Instructions: At the end of the week, what is the amount of Max's capital?