Mr. John started a T-shirts business to be known as “John T-shirts". He has provided you with the following information from his first month of operations: N$ Bank- overdraft 15 000 Prepaid rent expense 20 000 Accounts receivables 35 000 Capital 250 000 Buildings & equipment at 550 000 cost Insurance 5 000 Prepaid income 55 000 Accounts payables 50 000 Sales 100 000 Accrual water & electricity 20 000 Long - term loan (FNB) 105 000 Long term investment 110 000 Mortgage (bank Windhoek) 135 000 Interest on loan 15 000 Discount received 10 000 Discount allowed 5 000 Determine the value of non-current assets.
Mr. John started a T-shirts business to be known as “John T-shirts". He has provided you with the following information from his first month of operations: N$ Bank- overdraft 15 000 Prepaid rent expense 20 000 Accounts receivables 35 000 Capital 250 000 Buildings & equipment at 550 000 cost Insurance 5 000 Prepaid income 55 000 Accounts payables 50 000 Sales 100 000 Accrual water & electricity 20 000 Long - term loan (FNB) 105 000 Long term investment 110 000 Mortgage (bank Windhoek) 135 000 Interest on loan 15 000 Discount received 10 000 Discount allowed 5 000 Determine the value of non-current assets.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![Mr. John started a T-shirts business to be known as "John T-shirts". He has provided you with the following
information from his first month of operations:
N$
Bank- overdraft
15 000
Prepaid rent expense
20 000
Accounts receivables
35 000
Capital
250 000
Buildings & equipment at
550 000
cost
Insurance
5 000
Prepaid income
55 000
Accounts payables
50 000
Sales
100 000
Accrual water & electricity
20 000
Long - term loan (FNB)
105 000
Long term investment
110 000
Mortgage (bank Windhoek)
135 000
Interest on loan
15 000
Discount received
10 000
Discount allowed
5 000
Determine the value of non-current assets.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F784d7954-db0e-4477-bb7a-6591f1b1cb08%2Fb2d8a6b2-05d4-4aa5-abb3-d50662cbb930%2Fm8e89cf_processed.png&w=3840&q=75)
Transcribed Image Text:Mr. John started a T-shirts business to be known as "John T-shirts". He has provided you with the following
information from his first month of operations:
N$
Bank- overdraft
15 000
Prepaid rent expense
20 000
Accounts receivables
35 000
Capital
250 000
Buildings & equipment at
550 000
cost
Insurance
5 000
Prepaid income
55 000
Accounts payables
50 000
Sales
100 000
Accrual water & electricity
20 000
Long - term loan (FNB)
105 000
Long term investment
110 000
Mortgage (bank Windhoek)
135 000
Interest on loan
15 000
Discount received
10 000
Discount allowed
5 000
Determine the value of non-current assets.
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