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Balance sheet example questions and answers. R1 200 000 Current assets stock plus. Explain the uses and limitations 7 of a balance sheet. What types of items appear under the assets side.
The following example questions ask you to calculate a companys total liabilities and total equity on a given day. What in the budget shows the owner how well the business is doing. When an owner draws 5000 from a sole proprietorship or when a corporation declares and pays a 5000 dividend the asset Cash decreases by 5000.
The balance sheet is affected but cost of goods sold is not d. Both the balance sheet and the income statement are affected ____ 9. Balance sheet practice questions and answers pdf.
Green as at 31 March 2015 in both horizontal and vertical style. The income statement is affected but the balance sheet is not c. Classified balance sheet presents the components of assets liabilities and equity classified as current and non-current items.
Content of these documents are copy right protected. Bought goods from Karl on credit 20000. Assets are classified into current assets property plant equipment PPE intangible assets and non-current investments.
There are a number of business success indicators or failure in the budget. What is a Balance Sheet. QUESTIONS AND ANSWERS BALANCE SHEET INCOME STATEMENT EXAMPLE 1.
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