Karen Simpson started a green grocery business on 1 January 2017. At that date she had the

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Karen Simpson started a green grocery business on 1 January 2017. At that date she had the following assets and liabilities.

Cash at bank $40 000 Motor van $350 000

The following transactions took place during the month of January 2017.

Purchase of fixtures and fittings by cheque $12 000

Received loan by cash from Richard Brown $60 000

Bought office equipment on credit from S. Simpson $20 000

Calculate the capital of Karen Simpson at 31 January 2017.

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Understanding Financial Statements

ISBN: 978-0133874037

11th edition

Authors: Lyn Fraser, Aileen Ormiston

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Posted Date: Jan 29, 2024 07:10 AM

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Karen Simpson started a green grocery business on 1 January 2017. At that date she had the

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