The following amounts have been paid out of the business bank account. Purchase of motor car £7 000, petrol and car expenses £1 300, wages £4 500, £9 000 paid in by the owner, money taken out by the owner, £1 000, money from sales £9 000, purchases of goods resold £4 000, rent of premises £3 000.
-what should be recorded as the increase in assets over the period?
A) £7000
B) £16000
C) £15000
D) £ 4200
E) None of the above

Question

The following amounts have been paid out of the business bank account.  Purchase of motor car £7 000, petrol and car expenses £1 300, wages £4 500, £9 000 paid in by the owner, money taken out by the owner, £1 000, money from sales £9 000, purchases of goods resold £4 000, rent of premises £3 000. 
-what should be recorded as the increase in assets over the period?
A) £7000
B) £16000
C) £15000
D) £ 4200
E) None of the above

Quizplus · Accepted Answer

The Answer of The following amounts have been paid out of the business bank account.  Purchase of motor car £7 000, petrol and car expenses £1 300, wages £4 500, £9 000 paid in by the owner, money taken out by the owner, £1 000, money from sales £9 000, purchases of goods resold £4 000, rent of premises £3 000. 
-what should be recorded as the increase in assets over the period?
A) £7000
B) £16000
C) £15000
D) £ 4200
E) None of the above

The Following Amounts Have Been Paid Out of the Business