Mr. John started a T-shirts business to be known as John T-shirts. He has provided you with
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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.
Expert Answer:
Step 1 Step 1 Expense refers to the cost that is incurred in return of acquiring goods ... View the full answer
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