(a) Explain the following types of capital (i)Authorized capital (ii) Liquid capital
(b) the following records were extracted from the books of Bandin and Bachur Partnership as at March 31st, 2020
|
Equipment |
I50,000 |
|
Cash at bank |
25.000 |
|
Creditors |
120.000 |
|
Debtors |
150 000 |
|
Stock as at 1/03/20 |
30.000 |
|
Motor van |
300,000 |
|
Fixtures and fittings |
40,000 |
|
Overdraft |
45.000 |
|
|
25,000 |
Calculate: (i) Fixed assets. (ii) Current liabilities: (iii) Current assets: (iv) Working capital (v) Average stock
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