Mr. John started a T-shirts business to be known as “John T-shirts". He has provided you with the following information from his first month of operations: N$ Bank- overdraft 15 000 Prepaid rent expense 20 000 Accounts receivables 35 000 Capital 250 000 Buildings & equipment at 550 000 cost Insurance 5 000 Prepaid income 55 000 Accounts payables 50 000 Sales 100 000 Accrual water & electricity 20 000 Long - term loan (FNB) 105 000 Long term investment 110 000 Mortgage (bank Windhoek) 135 000 Interest on loan 15 000 Discount received 10 000 Discount allowed 5 000 Determine the value of non-current assets.

Mr. John started a T-shirts business to be known as “John T-shirts". He has provided you with the following information from his first month of operations: N$ Bank- overdraft 15 000 Prepaid rent expense 20 000 Accounts receivables 35 000 Capital 250 000 Buildings & equipment at 550 000 cost Insurance 5 000 Prepaid income 55 000 Accounts payables 50 000 Sales 100 000 Accrual water & electricity 20 000 Long - term loan (FNB) 105 000 Long term investment 110 000 Mortgage (bank Windhoek) 135 000 Interest on loan 15 000 Discount received 10 000 Discount allowed 5 000 Determine the value of non-current assets.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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