O-LevelAccountingThe fundamentals of accounting7707/11 · Oct/Nov 2012 · Q11 Mark

On 1 October Winston's assets totalled $10 000 and his liabilities totalled $3000. On 2 October he paid $190 to a creditor after deducting $10 cash discount. What was Winston's capital after the transaction on 2 October?

A$6800

B$6810

C$6990

D$7010

✓ Correct answer

D: $7010

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Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2012 Paper 1 Variant 1, question 1.

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On 1 October Winston's assets totalled $10 000 and his liabilities totalled $3000. On 2 October he paid $190 to a creditor after deducting $10 cash discount. What was Winston's capital after the transaction on 2 October?

✓ Correct answer

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