What is Mr Arendse’s equity in his business at the end of October 2016? a.R152 100 b.R2 775 900 c.R210 700 d.R1 301 900 e.R39 300

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What is Mr Arendse’s equity in his business at the end of October 2016?

a.R152 100

b.R2 775 900

c.R210 700

d.R1 301 900

e.R39 300

Mr Arendse has asked you for some assistance with his financials. The following balances appeared in the books of his business as at
the end of October 2016.
Name of account
Business Loan: BizDirect Bank
Manufacturing machinery
Creditors control
Debtors control
Warehouse building
Balance (R)
339,200
84,000
358,400
26,700
800,000
Name of account
Mortgage bond - Warehouse
Petty cash
Delivery vehicle
Bank-Overdraft
Office furniture
Balance (R)
700,000
7,000
264,200
56,400
120,000
Transcribed Image Text:Mr Arendse has asked you for some assistance with his financials. The following balances appeared in the books of his business as at the end of October 2016. Name of account Business Loan: BizDirect Bank Manufacturing machinery Creditors control Debtors control Warehouse building Balance (R) 339,200 84,000 358,400 26,700 800,000 Name of account Mortgage bond - Warehouse Petty cash Delivery vehicle Bank-Overdraft Office furniture Balance (R) 700,000 7,000 264,200 56,400 120,000
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