Solution-What will be polo capital at the end of financial

What will be polo capital at the end of financial year

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Reference no: EM133169541

Question - The accountant for Polo's Pet Shop prepared the following list of account balances from the entity's records for the financial year ended June 30, 2021:

Sales Revenue	$196,000	Cash	$25,000
Accounts Receivable	14,500	Cost of Goods Sold	45,000
Equipment	56,000	Polo, Capital-1 July 2020	22,000
Accounts Payable	17,000	Notes Payable	15,000
General & Admin Expense	32,000	Inventory	1,500
Selling Expense	6,000	Accumulated Depreciation	12,000
Mortgage Payable	5,000	Land	66,000
Interest Expense	21,000

Required - What will be Polo's capital at the end of financial year 30 June 2021 if there was no withdrawal from Polo, but he contributed $10,000 more capital to the business?

Reference no: EM133169541

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What will be polo capital at the end of financial year

Reference no: EM133169541

Reference no: EM133169541

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