Ilona's business bank account at 1 May 20X7 has a balance of £13 000 in her favour. On 2 May 20X7 she buys a non-current asset for £10 000.
On 3 May 20X7 she receives an amount owing of £3 600.
Assuming that there are no other transactions, what is the balance on Ilona's business bank account at the close of business on 3 May 20X7?
A) £19 400
B) £6 600
C) £26 600
D) Overdraft of £600
Correct Answer:
Verified
Q20: Finlay's business has current liabilities of £23
Q21: Paige's statement of financial position at 30
Q22: Nerina's statement of financial position at 1
Q23: Sergei has £8658 in his business bank
Q24: Mark's statement of financial position at 31
Q26: Sergei has £8658 in his business bank
Q27: Susannah's statement of financial position at 31
Q28: Natalia's business bank account shows a balance
Q29: Ilona's business bank account at 1 May
Q30: The balances in Mansoor's statement of financial
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents