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O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2012 · Q21 Mark

Padma started a business on 1 April 2011 with $30 000 of her own money. On 31 March 2012 her assets and liabilities were: $ machinery at net book value 38 000 other assets 15 000 long-term loan from bank 16 500 What was Padma's capital on 31 March 2012?

A$30 000
B$36 500
C$46 500
D$53 000

✓ Correct answer

B: $36 500

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2012 Paper 1 Variant 1, question 2.

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