Debit | Credit | |
Receivables | 70,000 | |
Drawings | 5,000 | |
Purchases | 250,000 | |
Rent | 5,000 | |
Bank Interest | 9,000 | |
Heat and Light | 2,000 | |
Bank Loan | 40,000 | |
Bank OD | 6,000 | |
Revenue | 280,000 | |
Capital | 15,000 | |
Total | 341,000 | 341,000 |
The business does not hold inventory. No further adjustments were required.
What is Bob's opening capital figure as at 1 May 2013?
Suggested solutions:
Revenue | 280,000 | |
purchases | 250,000 | |
Rent | 5,000 | |
Bank Interest | 9,000 | |
Heat | 2,000 | |
Profit | 14,000 | |
Add Capital | 15,000 | |
Minus Drawings | 5,000 | |
Answer | 24,000 |
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2015 ACCA F3 OPENING CAPITAL