Find out the value of assets if: Liabilities=$5000 and Capital=$1000

Related Mcqs:

Which of the following will affect the agreement of a trial balance?

A. Complete omission of a transaction B. Partial omission of a transaction C. Error of principle D. Compensating errors...

Liabilities are which of the following?

A. Resources B. Obligations C. Future benefits D. Expenses...

Capital of a business decreases if there is an increase in___________?

A. Drawings B. Income C. Gains D. Fresh capital...

Which of the following is true regarding closing entries?

A. They must be followed by reversing entries B. They transfer the balances in all of the Nominal Accounts to the Trading and Profit and Loss Account C. They must be made after the reversing entries but before the adjusting entries D. They must be made after the adjusting entries but before the reversing entries...

Which of the following is a Real A/c?

A. Salary A/c B. Bank A/c C. Building A/c D. Goodwill A/c...