Class - Exercise

Calculate Owners Equity from the following information:

(a) Cash in hand $ 5,000, bank balance $4,000. Prepaid insurance 1,000, Sundry Debtors $ 5,000,
Plant & Machinery $10,000 Sundry Creditors $ 3,500, Accounts Payable $ 3,000
(b) Cash in hand $6,000, Bank balance $ 5,500, Accounts receivable 4,000, Prepaid rent $3,500
Bank loan $6,500, Sundry Creditors $2,500
(c) Cash in hand $ 10,000, Prepaid Insurance $2,000, Sundry Debtors $ 5,000, Motor Vehicle
$12,000 Revenue received in advance $ 7,500, Accounts Payable $ 2,000
(d) Bank Balance $12,000, Inventory $3,000, Office equipment $3,500, Accounts receivable $5,000,
Bank loan $6,000, Accounts payable $2,000
(e) Bank Balance$6,000, Cash $5,000, Inventory $2,000, Motor Vehicle $4,000, Revenue received in
advance $5,000, Accounts payable$3,500