What tom drawings during the year were

Reference no: EM132724926

Tom set up a business on 1 January. He bought Non-current assets costing £53,000 and Inventory costing £6,600. He had financed these in advance of commencing business with a personal loan of £25,000 from his brother and a business loan from a bank. On 31 December of the same year his net assets totalled £37,200. His net profit for the year was £21,100.

Problem 1: Tom's drawings during the year were:

Reference no: EM132724926

Questions Cloud

What is the return on assets for big store : What is the return on assets for Big Store (a) in 2012 and (b) in 2021? You have available to you an extensive data set that includes detailed financial data

Airline deregulation act : What were the economic and political factors that influenced the passage of the Airline Deregulation Act of 1978? What are the two exceptions to the act?

What amount Alca report as inventory in its balance sheet : These goods costing P15, 000 were picked up by the carrier on July 9, 2006. What amount Alca report as inventory in its balance sheet

Briefly outline the processes by which stars are born : Briefly outline the processes by which stars are born, live, and die. Be sure to include the differences in the final phases of low-mass vs. high-mass stars,

What tom drawings during the year were : What Tom drawings during the year were? Tom set up a business on 1 January. He bought Non-current assets costing £53,000 and Inventory costing £6,600

Epidemiological applications and disease outbreak : Describe how the concept of multifactorial etiology relates to the natural history of disease and the different levels of prevention.

What would be implications of the situation for XYZ Ltd : XYZ Ltd is a mining company and have been in the industry for last 20 years. What would be implications of the situation for XYZ Ltd

Find how much is account receivable : Company's total Liabilities and Equity amounted to Php 285,000. Assuming the company had no other assets, how much is Account's Receivable?

Write a report that addresses Ray concerns : At the end of 2020, TQF issued preferred shares in the amount of $ 15,000 to one key employee, Gary Roberts. Write a report that addresses Ray concerns

User Account

All Pages