The following balances were extracted from the books of Muli traders as at 31st March 2010 Shs. Fixed Assets 200,000 Creditors 35,000 Current assets 110,000 4 year bank loan 150,000 Required; Determine the net...

      

The following balances were extracted from the books of Muli traders as at 31st March 2010
Shs.
Fixed Assets 200,000
Creditors 35,000
Current assets 110,000
4 year bank loan 150,000
Required;
Determine the net worth of the business as at 31st march 2010

  

Answers


Kavungya
A = C + L
Capital = Assets - Liabilities
C = (FA + CA) – (Creditors + 4year bank loan)
C = 310,000 – 185,000 = 125,000
Kavungya answered the question on September 26, 2019 at 10:41


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