Mr. Yong has presented you with the following list of items relating to the financial affairs of the preschool for the first 6 months of trading: Assets and Liabilities as at 31 June 2023 Premises Unpaid electricity bill Fees owing by parents Fixtures and equipment Cash in hand Bank loan (5-year,8% p.a interest) Computers & It equipment Owing for repairs to premises Bank balance-overdraft Payables for stationery and school supplies Motor vehicles $ 8 195 000 16 000 180 000 350 330 13050 194 950 446 940 8 000 202 000 125 320 2 000 000 Use the balances above to calculate the capital for Mr. Fu Yong as at 30 June 2023

Mr. Yong has presented you with the following list of items relating to the financial affairs of the preschool for the first 6 months of trading: Assets and Liabilities as at 31 June 2023 Premises Unpaid electricity bill Fees owing by parents Fixtures and equipment Cash in hand Bank loan (5-year,8% p.a interest) Computers & It equipment Owing for repairs to premises Bank balance-overdraft Payables for stationery and school supplies Motor vehicles $ 8 195 000 16 000 180 000 350 330 13050 194 950 446 940 8 000 202 000 125 320 2 000 000 Use the balances above to calculate the capital for Mr. Fu Yong as at 30 June 2023

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 3MCQ

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