Sangster, Frank Wood’s Business Accounting 13th Edition, Volume 1 Solutions Manual (Complete And Verified Study material) (87pages) LEARNEXAMS

Answers Note: To save time and space, the months are omitted in the Ledger accounts which follow. The day of the month is shown in brackets. Answer to Question 1.2A BA 1 (a) 76,200 (b) 25,800 (c) 15,200 (d) 52,050 (e) 52,000 (f ) 79,500 Answer to Question 1.4A BA 1 (a) Asset (f ) Asset (b) Asset (g) Liability (c) Liability (h) Liability (d) Asset (i) Asset (e) Asset Answer to Question 1.6A BA 1 Assets List Wrong: Accounts payable, Capital. Liabilities List Wrong: Loan to J Wilson, Equipment, Computers. Answer to Question 1.8A BA 1 Fixtures 1,200 + Van 6,000 + Inventory 2,800 + Bank 200 + Cash 175 = Total Assets 10,375. Loan 2,500 + Accounts payable 1,600 + Capital (difference) 6,275. Answer to Question 1.10A BA 1 M Kelly Statement of Financial Position as at 30 June 2016 Non-current assets Equipment 6,800 Current assets Inventory 7,200 Accounts receivable 6,300 Cash at bank 4,200 17,700 Less Current liabilities Accounts payable 8,200 9,500 16,300 Capital