A-LevelAccountingPreparation of financial statements9706/12 · Oct/Nov 2019 · Q101 Mark
A business had the following assets and liabilities at the start of the year. a motor car valued at $2500 inventory which cost $4000 with a sales value of $5800 bank overdraft of $500 a loan to a friend from the business bank account of $1000 What was the capital account balance at the start of the year?
A$5000
B$7000
C$8000
D$8800
✓ Correct answer
B: $7000
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