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  • Answers 5.10X and 5.14X

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    Richelle HUSBANDS
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    Kelly's statement of financial position as of June 30, 2018 shows total assets of $15,900 including office machinery, inventory, accounts receivable, and cash in the bank. Total liabilities include a $2,000 loan from C. Smith and $900 in accounts payable, leaving $13,000 in capital. C. Samuels' statement of financial position as of March 31, 2017 shows total assets of $16,500 including buildings, a motor vehicle, inventory, accounts receivable, and cash in the bank. Total liabilities include a $1,000 loan from L. Stennett and $1,100 in accounts payable, leaving $14,400 in capital.

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    POA - Solutions - 5.10X and 5.14X

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    Kelly's statement of financial position as of June 30, 2018 shows total assets of $15,900 including office machinery, inventory, accounts receivable, and cash in the bank. Total liabilities include a $2,000 loan from C. Smith and $900 in accounts payable, leaving $13,000 in capital. C. Samuels' statement of financial position as of March 31, 2017 shows total assets of $16,500 including buildings, a motor vehicle, inventory, accounts receivable, and cash in the bank. Total liabilities include a $1,000 loan from L. Stennett and $1,100 in accounts payable, leaving $14,400 in capital.

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    9 views2 pages

    Answers 5.10X and 5.14X

    Uploaded by

    Richelle HUSBANDS
    Kelly's statement of financial position as of June 30, 2018 shows total assets of $15,900 including office machinery, inventory, accounts receivable, and cash in the bank. Total liabilities include a $2,000 loan from C. Smith and $900 in accounts payable, leaving $13,000 in capital. C. Samuels' statement of financial position as of March 31, 2017 shows total assets of $16,500 including buildings, a motor vehicle, inventory, accounts receivable, and cash in the bank. Total liabilities include a $1,000 loan from L. Stennett and $1,100 in accounts payable, leaving $14,400 in capital.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 2

    Kelly's

    Statement of Financial Position


    as at 30 June 2018
    Assets $ $
    Office Machinery 9,000
    Inventory 1,550
    Accounts Receivable 275
    Cash at bank 5,075
    15,900
    Less: Loan C. Smith 2,000
    Accounts Payable 900 2,900
    13,000

    Capital 13,000
    C. Samuels
    Statement of Financial Posisition
    as at 31 March 2017
    Assets $ $
    Buildings 6,000
    Motor Vehicle 4,000
    Stock of goods (Inventory) 2,000
    Accounts receivable (2,800-300) 2,500
    Cash at bank (3,200-500+300-1,000) 2,000
    16,500
    Less: Loan from L. Stennett (2,000-1,000) 1,000
    Accounts payable (1,600-500) 1,100 2,100
    14,400

    Capital 14,400

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