Johnson Ltd's Statement of Financial Position contained the following information:Share capitalShare premium accountRetained earningsRevaluation reserveCurrent assetsNon-current assets£830,000What must the company's total liabilities be?A) £1,810,000B) £720,000сC) £870,000D £370,000£220,000£100,000£280,000£120,000£260,000

BALANCE SHEET The balance sheet is one of the important financial statements of the company. Balance…

Johnson Ltd's Statement of Financial Position contained the following information: Share capital £220,000 Share premium account £100,000 Retained earnings £280,000 Revaluation reserve £120,000 Current assets £260,000 Non-current assets £830,000 What must the company's total liabilities be? £1,810,000 B £720,000 £870,000 (D) £370,000

Johnson Ltd's Statement of Financial Position contained the following information: Share capital £220,000 Share premium account £100,000 Retained earnings £280,000 Revaluation reserve £120,000 Current assets £260,000 Non-current assets £830,000 What must the company's total liabilities be? £1,810,000 B £720,000 £870,000 (D) £370,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Johnson Ltd's Statement of Financial Position contained the following information:
Share capital
Share premium account
Retained earnings
Revaluation reserve
Current assets
Non-current assets
£830,000
What must the company's total liabilities be?
A) £1,810,000
B) £720,000
с
C) £870,000
D £370,000
£220,000
£100,000
£280,000
£120,000
£260,000

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