ACCA FA2 CAPITAL BALANCE 1

A business has cash of $20,000. trade payables of $50,000, a mortgage liability of $10,000, and land of $50,000.

What is the capital balance?

SUGGESTED SOLUTIONS

$
Land 50,000
Cash 20,000
Assets 70,000
Payables 50,000
Mortgage 10,000
Total liabilities 60,000
Capital (Assets - Total liabilities) 10,000

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