Maurice Tutor

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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Aug 2017 My Price 11.00

Assets and liabilities

The following information has been gathered from the accounting records of Pets   Parlour:

Assets and liabilities at 31 December Year 4

 

 

£

Cash at bank

500

Borrowings

6,000

Trade receivables (debtors)

5,000

Property, plant and  equipment

29,000

Revenue and expenses for the year ended 31 December Year  4

£

Fees charged for work done

20,000

Interest paid on  borrowings

1,000

Administration  costs incurred

1,500

Salaries paid to employees

14,000

Required

Using the accounting equation,  calculate:

(a)    The amount of ownership interest at 31 December Year  4.

(b)    The amount of net profit for the  year.

(c)    The amount of the ownership interest at 1 January Year  4.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Aug 2017 09:08 PM My Price 11.00

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