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P2 - Reconstructions

Former userFormer user10y ago

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MikeLittleMikeLittleTutor10y ago#1
Payables ..... 40c in the $ on $19,600 = $7,840 Balance at bank - page 145 Cash Account shows $4,000 Retained earnings - page 145 Reconstruction Account $2,760 OK?
MikeLittleMikeLittleTutor10y ago#2
Yes, the 30,000 brought down in the question is shown in the Reconstruction Account (debit side) The 2,760 is the balance on that account after the directors' plan has been accounted for
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