FRA June 06 - Goodwill

Gemmar
Gemmar Registered Posts: 4 New contributor ?
I am completing practice papers for tomorrow. Just completing this one and I just cannot understand how you know Pat paid 80,000 from her bank into the business. It seems key to answering this question correctly!:confused1:

Comments

  • Ed1
    Ed1 Registered Posts: 51 ? ? ?
    It states it on page 14, under Data (b).
  • Rachey
    Rachey Registered Posts: 589
    Gemmar wrote: »
    I am completing practice papers for tomorrow. Just completing this one and I just cannot understand how you know Pat paid 80,000 from her bank into the business. It seems key to answering this question correctly!:confused1:
    It tells you in the 'DATA' section. It says '(b) Pat introduced capital of £80,000 during the year. This was debited to the bank account but no other entries were made'

    So you need to do a journal for it. Hope this helps!
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