Lou3000
Mar 9, 2009, 02:43 PM
Please, please can somebody help me? I'm at the end of my tether!! I am doing a long-distance book-keeping course and finding it very hard as my tutor is hard to contact and is actually off sick at the moment. I am on the last assignment and last question so I can't give up now!
I have to prepare a balance sheet using balances given and thus calculate the capital.
I have broken down the Fixed Assets/Current Assets/Current Liabilities thus:
Fixed Assets total 68,035
Current Assets total 8,757
Current Liabilities total 6,462
Makes a WORKING capital of 2,295
Financed by
Capital ? (how do I work this out?)
Plus Net Profit 14,970
Drawings 11,6000
The second part of my question requires that I prepare a capital account so I need the capital figure before I go any further.
I have been trying to work this out since Saturday morning and am exhausted! I have tried to work from examples in my course book but can't see where they arrive at the capital figures in the examples either!
Can anyone help?!
I have to prepare a balance sheet using balances given and thus calculate the capital.
I have broken down the Fixed Assets/Current Assets/Current Liabilities thus:
Fixed Assets total 68,035
Current Assets total 8,757
Current Liabilities total 6,462
Makes a WORKING capital of 2,295
Financed by
Capital ? (how do I work this out?)
Plus Net Profit 14,970
Drawings 11,6000
The second part of my question requires that I prepare a capital account so I need the capital figure before I go any further.
I have been trying to work this out since Saturday morning and am exhausted! I have tried to work from examples in my course book but can't see where they arrive at the capital figures in the examples either!
Can anyone help?!