ACCA FA2 CAPITAL BALANCE 1

A business has cash of $70,000. trade payables of $40,000, a mortgage liability of $30,000, and land of $40,000.

What is the capital balance?

SUGGESTED SOLUTIONS

$
Land 40,000
Cash 70,000
Assets 110,000
Payables 40,000
Mortgage 30,000
Total liabilities 70,000
Capital (Assets - Total liabilities) 40,000

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