Sean and Co is a new pizza delivery business that was created by depositing £20,000 in a bank account on 01 April. This amount was raised partly from Sean, who is the owner (£6,000), and partly from bank loan (£14,000). During the first week of trading, Sean bought a motorbike for £5,000 paying by cheque. The motorbike will be used to deliver the pizzas. At the end of the first week of trading, the total current asset in the business is:

Sean and Co is a new pizza delivery business that was created by depositing £20,000 in a bank account on 01 April. This amount was raised partly from Sean, who is the owner (£6,000), and partly from bank loan (£14,000). During the first week of trading, Sean bought a motorbike for £5,000 paying by cheque. The motorbike will be used to deliver the pizzas. At the end of the first week of trading, the total current asset in the business is:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 3TP: If a customer owed your company $100 on the first day of the month, then purchased $200 of goods on...

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