What is the total amount of liabilities in his business? a.R1 397 600b.R1 122 300c.R1 147 600d.R1 454 000 Mr Arendse has asked you for some assistance with his financials. The following balances appeared in the books of his business as atthe end of October 2016.Name of accountBusiness Loan: BizDirect BankManufacturing machineryCreditors controlDebtors controlWarehouse buildingBalance (R)339,20084,000358,40026,700800,000Name of accountMortgage bond - WarehousePetty cashDelivery vehicleBank-OverdraftOffice furnitureBalance (R)700,0007,000264,20056,400120,000

Lets understand the basics. Liability is portion in financial statement which show how much amount…

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Business

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What is the total amount of liabilities in his business? a.R1 397 600 b.R1 122 300 c.R1 147 600 d.R1 454 000

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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