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What will be the position of the owener of the company?If
the company liablites are more than company assets .
a. solvent
b. insolvent
c. profitable
d. liquidity
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Answer Posted / sowmya.k
insolvent. as his assets r less, if ever he goes for
liqidation he cant pay of his liabilites. so he is
insolvent.
| Is This Answer Correct ? | 6 Yes | 0 No |
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please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
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