The accountant for Polo's Pet Shop prepared the following list of account balances from the entity's records for the financial year ended June 30, 2021: Sales Revenue $196,000 Cash $25,000 Accounts Receivable 14,500 Cost of Goods Sold 45,000 Equipment 56,000 Polo, Capital-1 July 2020 22,000 Accounts Payable 17,000 Notes Payable 15,000 General & Admin Expense 32,000 Inventory 1,500 Selling Expense 6,000 Accumulated Depreciation 12,000 Mortgage Payable 5,000 Land 66,000 Interest Expense 21,000 What will be Polo's capital at the end of financial year 30 June 2021 if there was no withdrawal from Polo, but he contributed $10,000 more capital to the business? a. $135,000 b. $124,000 c. $132,000 d. $110,000 e. None on these answers are correct

The accountant for Polo's Pet Shop prepared the following list of account balances from the entity's records for the financial year ended June 30, 2021: Sales Revenue $196,000 Cash $25,000 Accounts...

The accountant for Polo's Pet Shop prepared the following list of account balances from the entity's records for the financial year ended June 30, 2021:

Sales Revenue	$196,000	Cash	$25,000
Accounts Receivable	14,500	Cost of Goods Sold	45,000
Equipment	56,000	Polo, Capital-1 July 2020	22,000
Accounts Payable	17,000	Notes Payable	15,000
General & Admin Expense	32,000	Inventory	1,500
Selling Expense	6,000	Accumulated Depreciation	12,000
Mortgage Payable	5,000	Land	66,000
Interest Expense	21,000

What will be Polo's capital at the end of financial year 30 June 2021 if there was no withdrawal from Polo, but he contributed $10,000 more capital to the business?

$135,000

$124,000

$132,000

$110,000

None on these answers are correct

Jun 09, 2022

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The accountant for Polo's Pet Shop prepared the following list of account balances from the entity's records for the financial year ended June 30, 2021: Sales Revenue $196,000 Cash $25,000 Accounts...

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