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    shelly050277's Avatar
    shelly050277 Posts: 1, Reputation: 1
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    #1

    Jan 14, 2007, 11:31 AM
    accounting equation
    bugs total business assets were $12,000 and the total liabilities were $8,500 and creditors accounts payable $3,500.after a year in trade the business assets were now valued at $20,000 and his creditors (accounts payble) were $5,000.during the year he introduced new capital of $2,000 (which is already recorded in assets) but also withdrew $5,000 for plastic surgery to look like Michael Jackson
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
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    #2

    Jan 14, 2007, 04:04 PM
    Ok, so what is your question?
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