* not completed

. What is the Accounting Equation?

Total Assets + Total Liabilities = Equity correct incorrect

Total Assets + Equity = Total Liabilities correct incorrect

Total Assets = Equity – Total Liabilities correct incorrect

Total Assets – Total Liabilities = Equity correct incorrect

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. Edmund Limited has non-current assets of £101,356, current assets of £52,618, current liabilities of £42,615 and non-current liabilities of £42,000. Using the accounting equation, calculate the figure for equity.

£49,353 correct incorrect

£153,359 correct incorrect

£69,359 correct incorrect

£238,589 correct incorrect

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. Francis Limited has non-current assets of £242,000, current assets of £68,000, current liabilities of £52,000 and non-current liabilities of £100,000. Using the accounting equation, calculate the figure for equity.

£158.000 correct incorrect

£222,000 correct incorrect

£262,000 correct incorrect

£462,000 correct incorrect

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. Marina is a sole trader with a market stall. During her first year of trading to 31 December 2021, she paid £10,000 of her own money into her business bank account, made a profit of £25,000 and withdrew £15,000 from the business to buy her parents a new car. What is the balance on her capital account at 31 December 2021?

£10,000 correct incorrect

£20,000 correct incorrect

£35,000 correct incorrect

£50,000 correct incorrect

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. Laura is a solicitor with her own legal practice. On 1 April 20209, Laura's capital account showed a balance of £152,000. During the accounting year to 31 March 2021 she paid £50,000 of her own money into the business bank account. Laura's legal practice made a loss of £25,000 during the year to 31 March 2021 and in this same period Laura withdrew £120,000 to repay part of the mortgage on her house. What is the balance on Laura's capital account at 31 March 2021?

£347,000 correct incorrect

£197,000 correct incorrect

£107,000 correct incorrect

£57,000 correct incorrect