## Answers

#1

BALANCE SHEET OF BBE AT END OF YEAR 1 | |||

LIABILITIES | AMOUNT | ASSETS | AMOUNT |

CAPITAL | 2,62,000 | FIXED ASSETS | |

RESERVE & SURPLUS | -65,000 | DELIVERY TRUCK | 1,50,000 |

( 200,0000-50,000) | |||

LOAN | 1,50,000 | ||

CURRENT LIABILITIES | CURRENT ASSETS | ||

PAYABLE TO EMPLOYEE | 13,000 | DUE FROM CUSTOMERS | 25,000 |

INTEREST PAYABLE | 15,000 | CASH ON HAND | 2,00,000 |

TOTAL | 3,75,000 | TOTAL | 3,75,000 |

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