Brian had a service business which held no inventory. His current assets and current liabilities at 1 April were as follows. $Trade receivables: 10000 Trade payables: 6100 Bank overdraft: 1900 On that date he set off a sales ledger balance, $600, against a purchases ledger balance and then created a provision for doubtful debts of 5%. What was the value of his working capital after these adjustments?

X and Y have capital accounts of $50000 each and share profits equally. They plan to admit Z into partnership. The ne…

David and Jane have been business partners for several years, sharing profits in the ratio of 2:1. Jane now wishes to…

Which is not an appropriation of partnership profit?

The trial balance totals are as follows: debit $500 150 credit $500 000 Which error could have caused the difference?

The statement of the financial position of a company shows the following: $ tangible non-current assets 20 600 intang…

A computer used for demonstration to customers was treated as capital expenditure. At the end of the year a customer …