On 1/1 the merchant started his business with a capital of (100,000) deposited in the bank. 1\1 The merchant started his business with a capital of (10,000), which 2000 was cash and the rest was opened for the bank account. On 1/1 the trader started his business with the following assets:1,000 cash, 20,000 cars, 4,000 goods, 5,000 furniture, and 3,000 debtors (Ghassan). On 6/20 the trader started his business with the following assets and liabilities: 1600 cash, 2900 goods, 600 furniture, 4000 building, 800 Hassan (debtor), 2,500 Saleh (creditor), 400 Mizzen (creditor).

On 1/1 the merchant started his business with a capital of (100,000) deposited in the bank. 1\1 The merchant started his business with a capital of (10,000), which 2000 was cash and the rest was opened for the bank account. On 1/1 the trader started his business with the following assets:1,000 cash, 20,000 cars, 4,000 goods, 5,000 furniture, and 3,000 debtors (Ghassan). On 6/20 the trader started his business with the following assets and liabilities: 1600 cash, 2900 goods, 600 furniture, 4000 building, 800 Hassan (debtor), 2,500 Saleh (creditor), 400 Mizzen (creditor).

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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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