ACCA FA2 CAPITAL BALANCE 1

A business has cash of $80,000. trade payables of $50,000, a mortgage liability of $50,000, and land of $80,000.

What is the capital balance?

SUGGESTED SOLUTIONS

$
Land 80,000
Cash 80,000
Assets 160,000
Payables 50,000
Mortgage 50,000
Total liabilities 100,000
Capital (Assets - Total liabilities) 60,000

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