Answered: You are required to compute for the…

You are required to compute for the average capital of Bong and Lapira based on the following postings to their accounts for 2019:

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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Question

Exercise 1: Computation of Average Capital

You are required to compute for the average capital of Bong and Lapira based on the following postings to their accounts for 2019:

(see attached image)

Exercise 1: Computation of Average Capital
You are required to compute for the average capital of Bong and Lapira based on the
following postings to their accounts for 2019:
Lapira, Capital
18,000 | Jan. 1
Bong Capital
Jan. 1
60,000
Oct. 1
45,000
Sept 30
30,000
Bong, Personal
12,000
Lapira, Personal
Jan. 1
Oct. 31
6,000 Jan. 1
24,000
Aug. 1
15,000

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