The following financial information relates to Harbor Traders (Item and Amount): • • Machinery: $55,000 Cash at hand: $12,000 • Bank overdraft: $18,000 Creditors: $25,000 Use the accounting equation to determine the value of capital.

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter15: Statement Of Cash Flows
Section: Chapter Questions
Problem 6DQ
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Determine the value of capital on these financial accounting question

The following financial information relates to Harbor Traders (Item and Amount):
•
•
Machinery: $55,000
Cash at hand: $12,000
•
Bank overdraft: $18,000
Creditors: $25,000
Use the accounting equation to determine the value of capital.
Transcribed Image Text:The following financial information relates to Harbor Traders (Item and Amount): • • Machinery: $55,000 Cash at hand: $12,000 • Bank overdraft: $18,000 Creditors: $25,000 Use the accounting equation to determine the value of capital.
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