Rory and Tony have traded as partners for a number of years, Their statement of financial position as at 30 June 2015 showS; Capital accounts Rory Tony 45 000 37 000 82,000 During the Current accoOunts 19,214 Rory 8,632 Tony 27. 846 109.846 year the business made a profit of $41,320 the pariners fook draMÄngs oi s12. $25,000 What was the net asset tolal as at 1 July 2014? rrent assets were revalued upwards by A. $152,166 B. $67.526 C. $92 526 $127 166

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Rory and Tony have traded as partners for a number of years, Their statement of financial position as at 30 June 2015 shows:
Capital accounts
45 000
37 000
Rory
Tony
82,000
During the
Current accounts
19.214
8632
Rory
Tony
27 846
109.846
year the business made a proft of $41,320 the pariners fook drawings of $12:000 eacn and non-current assets were revalued upwards by
$25,000
What was the net asset tolalas at 1July 20142
A. O $152,166
B.
$67 526
C.
$92 526
D.
$127,166
Transcribed Image Text:Rory and Tony have traded as partners for a number of years, Their statement of financial position as at 30 June 2015 shows: Capital accounts 45 000 37 000 Rory Tony 82,000 During the Current accounts 19.214 8632 Rory Tony 27 846 109.846 year the business made a proft of $41,320 the pariners fook drawings of $12:000 eacn and non-current assets were revalued upwards by $25,000 What was the net asset tolalas at 1July 20142 A. O $152,166 B. $67 526 C. $92 526 D. $127,166
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