Multiple Choice
A business has a motor vehicle worth £5,000 and equipment worth £10,000. It has £500 cash. The business owes £10,000 to its suppliers and is owed £25,000 from its customers, has a £500 overdraft and has £1,000 outstanding on a loan. How much capital does the business have?
A) £4,000
B) £29,000
C) £29,500
D) £49,000
Correct Answer:
Verified
Correct Answer:
Verified
Q6: If drawings exceed opening capital plus net
Q7: A business has a property worth £60,000,
Q8: If opening capital is £120,000, closing capital
Q9: Owner's capital is:<br>A) Opening capital plus drawings
Q10: Which of the following is regarded as
Q11: Which of the following is regarded as
Q12: Where does the following item appear in
Q14: Which of the following costs would be
Q15: A business has a property worth £100,000,
Q16: If opening capital is £10,000 and closing