You were presented with the following statement of financial position of Fancy Hairdressers: FANCY HAIRDRESSERS STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 20.10 Notes ASSETS Non-current assets Property, plant and equipment Fixed deposit Pretty Bank Current assets Trade and other receivables Cash and cash equivalent Total assets EQUITY AND LIABILITIES Equity Capital R(? - 15 000) Non-current liabilities Long-term borrowings Current liabilities Trade and other payables Total equity and liabilities What is the correct amount for capital, before drawings? NB: Instructions 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Only show the amount, do not show the R (eg: 12141.72) Answer: R 475 000 450 000 25 000 125 000 35 000 90 000 600 000 11232 12 250 000 250 000 50 600 50 600 600 000

You were presented with the following statement of financial position of Fancy Hairdressers: FANCY HAIRDRESSERS STATEMENT OF FINANCIAL POSITION AS AT 28 FEBRUARY 20.10 Notes ASSETS Non-current assets Property, plant and equipment Fixed deposit Pretty Bank Current assets Trade and other receivables Cash and cash equivalent Total assets EQUITY AND LIABILITIES Equity Capital R(? - 15 000) Non-current liabilities Long-term borrowings Current liabilities Trade and other payables Total equity and liabilities What is the correct amount for capital, before drawings? NB: Instructions 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Only show the amount, do not show the R (eg: 12141.72) Answer: R 475 000 450 000 25 000 125 000 35 000 90 000 600 000 11232 12 250 000 250 000 50 600 50 600 600 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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