Answered: You are required to compute for the…

You are required to compute for the average capital of Bong and Lapira based on the following postings to their accounts for 2019:

Fundamentals Of Financial Management, Concise Edition (mindtap Course List)

10th Edition

ISBN:9781337902571

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter16: Financial Planning And Forecasting

Section: Chapter Questions

Problem 2P: AFN EQUATION Refer to Problem 16-1. What additional funds would be needed if the companys year-end...

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Question

Exercise 1: Computation of Average Capital

You are required to compute for the average capital of Bong and Lapira based on the following postings to their accounts for 2019:

(see attached image)

Exercise 1: Computation of Average Capital
You are required to compute for the average capital of Bong and Lapira based on the
following postings to their accounts for 2019:
Lapira, Capital
18,000 | Jan. 1
Bong Capital
Jan. 1
60,000
Oct. 1
45,000
Sept 30
30,000
Bong, Personal
12,000
Lapira, Personal
Jan. 1
Oct. 31
6,000 Jan. 1
24,000
Aug. 1
15,000

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