ACCA FA2 CAPITAL BALANCE 1

A business has cash of $60,000. trade payables of $30,000, a mortgage liability of $20,000, and land of $30,000.

What is the capital balance?

SUGGESTED SOLUTIONS

$
Land 30,000
Cash 60,000
Assets 90,000
Payables 30,000
Mortgage 20,000
Total liabilities 50,000
Capital (Assets - Total liabilities) 40,000

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