Accounting 0452 · IGCSE · Sole traders

Sole traders — practice question

On 31 January 2020, Hassan possessed the following assets. No liabilities existed on 31 January 2020. Which entries will appear in Hassan’s statement of financial position on 31 January 2020?

  • Aintangible assets nil; non-current assets $12000; current assets $980; capital $12980
  • Bintangible assets nil; non-current assets $15000; current assets $480; capital $15480
  • Cintangible assets $3000; non-current assets $12000; current assets $980; capital $15980
  • Dintangible assets $3000; non-current assets $15000; current assets $480; capital $18480

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