question archive Bev's Dry Cleaners is owned and operated by Beverly Zahn
Subject:AccountingPrice: Bought3
Bev's Dry Cleaners is owned and operated by Beverly Zahn. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets and the liabilities of the business on November 1, 2016, are as follows: Cash, $39,000; Accounts Receivable, $80,000; Supplies, $11,000; Land, $50,000; Accounts Payable, $31,500. Business transactions during November are summarized as follows:
1)Beverly Zahn invested additional cash in the business with a deposit of $21,000 in the business bank account.
Required:
1. Determine the amount of Beverly Zahn's capital as of November 1. $