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Question 2: Atlantic Corporation has the following Assets and Liabilities on December 31 2019 $ Capital 10,000 Cash in h
Posted: Sat Mar 19, 2022 5:57 pm
by answerhappygod
- Question 2 Atlantic Corporation Has The Following Assets And Liabilities On December 31 2019 Capital 10 000 Cash In H 1 (74.93 KiB) Viewed 59 times
Question 2: Atlantic Corporation has the following Assets and Liabilities on December 31 2019 $ Capital 10,000 Cash in hand 20,000 Plant and Machinery 15,000 Sundry Creditors 220,000 Drawing 10000 Goodwill 250,000 Loan on mortgage 40,000 ho Bills Receivable 5000 Net profit 30000 Requires: (13 Marks) a Based on the above information prepare the Balance Sheet of Atlantic Corporation (Marking Scheme: 4 marks for correct format: 1 mark for each step, Total = 13)