O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2015 · Q21 Mark

A business had the following assets and liabilities. $ premises 15000 inventory 6000 trade receivables 3000 bank overdraft 1000 trade payables 4000 It took out a bank loan, $2000, to pay for a motor vehicle. What was the owner's capital after the transaction?

A$17000

B$19000

C$21000

D$23000

✓ Correct answer

B: $19000

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Topic: The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, May/June 2015 Paper 1 Variant 1, question 2.

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A business had the following assets and liabilities. $ premises 15000 inventory 6000 trade receivables 3000 bank overdraft 1000 trade payables 4000 It took out a bank loan, $2000, to pay for a motor vehicle. What was the owner's capital after the transaction?

✓ Correct answer

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