ACE Acumen Academy Question 1 (10 marks) Complete the gaps in the following table: Assets Liabilities $ $ Capital $ (a) 12,500 1,000 ?= (b) 28,000 4,500 ?= (c) 16,800 ?= 12,800 (d) 19,600 ?= 16,600 (c) ?= 6,300 19,200 Question 2 (10 marks) Which of the items in the following list are liabilities and which of them are assets? (a) Bank Balance (debit) (b) Ba60 overdraft (c) A900r Vehicle (d) We owe a vendor for goods (e) Machinery 11,650 Question 3 (10 marks) B. Wise is planning to in East started trading, he bought a van for $4,550, a market stall for $3,000 and inventory for $1,570. He did not pay in full for his inventory and still owes $1,000 in respect of them. He borrowed $5,000 from D. Fox. After the events just described, and before trading starts, he still has $3,100 cash at Royal Bank of Canada. start up a ACUMEN ACAefore he You are required to fill in the following blanks: (a Assets ) 2 (b Liabilities HRM_Group_1_Test_01 ) (c Capital Mark as done ACE Acumen Academy