imah Puddleduck ance Sheet at 31 October 2012 2012 2011 ETS h in hand h at bank 25 40 450 230
imah Puddleduck ance Sheet at 31 October 2012 2012 2011 ETS h in hand h at bank 25 40 450 230
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
1.
![Balance sheet for a student
Jemimah Puddleduck
Balance Sheet
As at 31 October 2012
2012
2011
ASSETS
Cash in hand
25
40
Cash at bank
450
230
Pre-paid accommodation
Debts owed by friends
600
590
20
Computer
Mobile phone
Other Assets
400
600
300
400
400
500
Total Assets
1,795
1,860
LIABILITIES
Credit Card Bill
175
68
Student Loan
14,000
14,175
(12,380)
7,000
Total Liabilities
7,068
(5,208)
NET WORTH
(or Equity)
In the above information, what is Jemimah's net worth in 2011. Don't use parentheses in your answer.
Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97a440d2-85c3-4ab8-89a1-6e3d36d48a23%2F2bc0c3ef-0475-41bc-96b2-f7c1040028d7%2Frn5h1ob_processed.png&w=3840&q=75)
Transcribed Image Text:Balance sheet for a student
Jemimah Puddleduck
Balance Sheet
As at 31 October 2012
2012
2011
ASSETS
Cash in hand
25
40
Cash at bank
450
230
Pre-paid accommodation
Debts owed by friends
600
590
20
Computer
Mobile phone
Other Assets
400
600
300
400
400
500
Total Assets
1,795
1,860
LIABILITIES
Credit Card Bill
175
68
Student Loan
14,000
14,175
(12,380)
7,000
Total Liabilities
7,068
(5,208)
NET WORTH
(or Equity)
In the above information, what is Jemimah's net worth in 2011. Don't use parentheses in your answer.
Answer:
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education