The author posted a question in Business, Finance
Where is the mistake? The asset and liability don't match in the balance sheet? and got a better answer
Response from
Statutory capital you have in the asset. Take it out. Also, there seems to be an error in the terms of the problem. Check?
Response from 0[+++++]
Statutory capital you have as an asset. Take it out. Also, there seems to be an error in the terms of the problem. Check it out.
Statutory capital you have as an asset. Take it out. Also, there seems to be an error in the terms of the problem. Check it out.
Response from 0[+++++]
Share capital should not be both an asset and a liability.
Share capital should not be both an asset and a liability.
Response from 0[+++++]
the asset does not go with the liability by 76000, if you take away the 40000-capital from the asset. This means there is a mistake in the problem statement. Which account is missing - the active account. Check the problem condition.
the asset does not go with the liability by 76000, if you take away the 40000-capital from the asset. This means there is a mistake in the problem statement. Which account is missing - the active account. Check the problem condition.