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help solving a question

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › help solving a question

  • This topic has 1 reply, 2 voices, and was last updated 1 month ago by John Moffat.
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    Posts
  • April 22, 2023 at 7:17 am #683333
    fionabin
    Participant
    • Topics: 1
    • Replies: 0
    • ☆

    Shaun had net assets of $13,000 at 30 September 20X6. During the year to 31 August 20X7, he introduced $9,800 additional capital into the business. Profits were $8,000, of which he withdrew $4,200.
    What was the balance on Shaun’s capital account at 31 August 20X7?

    Thank you

    April 22, 2023 at 9:56 am #683346
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 52452
    • ☆☆☆☆☆

    Why are you attempting a question for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers – it has answers and explanations.

    You need to use the accounting equation which is explained (with examples) in the free lectures working through Chapter 2 of our free lecture notes.

    The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.

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