Reference no: EM132864643
The following financial information has been supplied by New Forest Trading Pty Ltd as at 30 June 2021.
Cash on Hand $500;
Bank overdraft $10,000;
Accounts Payable $17,000;
Business Factory building $300,000;
Inventory $80,000;
Vehicle - Private $56,000 &
Business $45,000;
Personal Home Loan $68,000;
Mortgage Loan - Factory building $190,000;
Office equipment $35,000;
Accounts Receivable $2,000 & Business Loan for the Business vehicle $30,000.
Problem 1: What would be The Net Assets for New Forest Trading Pty Ltd as at 30 June 2021?
Group of answer choices
Option 1: $215,500
Option 2: $235,500
Option 3: $245,500
Option 4: $271,500
Option 5: $147,500
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