Ayne has been in business as a self employed dog groomer for manyyears. She has never operated

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Ayne has been in business as a self employed dog groomer for manyyears. She has never operated a double-entry accounting system.She is currently trying to prepare her accounts for the year ended 31December 2019.

Her bank statement for the year shows an opening balance of€4,000.

At 1 January 2019 she had the following assets and liabilities:

Inventory		€2,000
Trade Receivables		€500
Trade Payables		€1,000
Rent Prepaid		€250
Electricity accrual		€100
Bank Loan		€5,000
Van & equipment NBV		€6,000

What is Jayne's opening capital at 1 January 2019?

Related Book For answer-question

Accounting

ISBN: 978-1118608227

9th edition

Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett

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Posted Date: Oct 19, 2020 12:31 AM

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Ayne has been in business as a self employed dog groomer for manyyears. She has never operated

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