Library Ltd. has the following account balances on 31st December 2024 (The accounting year-end).

Which of the following statements is correct?

Question

Library Ltd. has the following account balances on 31st December 2024 (The accounting year-end). 
  
 Which of the following statements is correct?

Accepted Answer

All of the options are correct

Answer

Total Expenses equal £21,000 and Total Revenue equals £45,000

Answer

The net Book value of Motor Vehicles is £20,000

Answer

Total Assets equal £68,000 and Total Equity equals £35,000

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