Test Bank for Fundamental Financial Accounting
Concepts 11th Edition
By Thomas Edmonds, Philip Olds, Christopher Edmonds
Student name: aj aj
1) Indicate whether each of the following statements about markets is true or false. a) Fin
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
ancial resources can be provided to a business by investors. aj aj aj aj aj aj aj aj aj aj
b) Resource owners are the businesses that transform resources into products that s
aj aj aj aj aj aj aj aj aj aj aj ajaj
atisfy consumer desires.
aj aj aj
c) Labor resources include both the physical and intellectual labor of a business's e
aj aj aj aj aj aj aj aj aj aj aj aj ajaj
mployees. aj
d) Businesses purchase their resources from resource owners.
aj aj aj aj aj aj aj aj
e) Consumers are the main providers of resources in any market.
aj aj aj aj aj aj aj aj aj aj aj
2) Indicate whether each of the following statements about accounting information is true or false.
aj aj aj aj aj aj aj aj aj aj aj aj aj ajaj aj
a) Financial accounting is primarily intended to satisfy the information needs of i
aj aj aj aj aj aj aj aj aj aj aj ajaj
nternal stakeholders. aj aj
b) Managerial accounting information includes financial and nonfinancial
aj aj aj aj aj aj aj ajaj
information. aj
c) The accounting information intended to satisfy the needs of a company's
aj aj aj aj aj aj aj aj aj aj aj ajaj
employees is managerial accounting information.
aj aj aj aj aj
d) GAAP requires that companies adhere to financial accounting standards. e
aj aj aj aj aj aj aj aj aj aj
) Managerial accounting information is usually less detailed than financial accounting i
aj aj aj aj aj aj aj aj aj ajaj aj
nformation. aj
3) Indicate whether each of the following statements about liabilities is true or false.
aj aj aj aj aj aj aj aj aj aj aj aj aj aj
a) A net loss on the income statement decreases liabilities.
aj aj aj aj aj aj aj aj aj aj
b) The acquisition of a bank loan increases both assets and liabilities.
aj aj aj aj aj aj aj aj aj aj aj aj
c) The accounting equation requires that liabilities be equal to stockholders’ equity. d)
aj aj aj aj aj aj aj aj aj aj aj aj
The amount of a company's liabilities is equal to the difference between its assets and its stockho
aj aj aj aj aj aj aj aj aj aj aj aj aj aj ajaj aj aj
lders’ equity. aj aj
e) Liabilities are reported on the statement of cash flows of a business.
aj aj aj aj aj aj aj aj aj aj aj aj
4) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rretained rearningsrisrtrue rorrfalse.
aj aj aj aj aj aj aj aj aj aj
a)rArdividend rpaid rto rstockholdersrdecreasesrretained rearnings. aj aj aj aj aj
, b)rIssuing rcommon rstock rforrcash rincreasesrretained rearnings.
aj aj aj aj aj aj
c)rThe ramount rofrnet rincome rforra rperiod rmust requal rretained rearnings.
aj aj aj aj aj aj aj aj aj aj
d)rThe rpurchase rofra rtruck rdecreasesrretained rearnings.
aj aj aj aj aj aj
e)rNet rincome rincreasesrretained rearnings.
aj aj aj aj
5) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rthe rtypesrofrtransactionsris rtrue
aj aj aj aj aj aj aj aj aj aj
ror rfalse.aj aj
a)rAn rasset rsource rtransaction rincreasesrtotal rassetsrand rincreasesrclaimsrto rassets.
aj aj aj aj aj aj aj aj
b) rThe rissuance rofrstock rto rownersrforrcash rwould rbe ran rexample rofran
aj aj aj aj aj aj aj aj aj aj aj
rasset rexchange rtransaction.
aj aj aj
c)rPurchasing requipment rforrcash risran rexample rofran rasset ruse rtransaction. d)rPaying aj aj aj aj aj aj aj aj aj aj
ra rdividend rto rstockholdersrisran rexample rofran rasset ruse rtransaction. e)rMaking ra rpa
aj aj aj aj aj aj aj aj aj aj aj
yment ron ra rbank rloan risran rexample rofran rasset rexchange rtransaction.
aj aj aj aj aj aj aj aj aj aj aj
6) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rfinancial rstatementsris rtrue
aj aj aj aj aj aj aj aj aj a
ror rfalse.
j aj aj
a)rArcash rdividend rpaid rto rstockholdersrisrreported rin rthe rinvesting ractivities
aj aj aj aj aj aj aj aj a
j rsection rof rthe rstatement rof rcash rflows.
aj aj aj aj aj aj aj
b) rArcash rdividend rpaid rto rstockholdersrisrreportedron rthe rstatement rof
aj aj aj aj aj aj aj aj aj
rchangesrin rstockholders' requity. aj aj aj
c)rA rcash rdividend rpaid rto rstockholdersrisrreported ron rthe rincome rstatement. d)r
aj aj aj aj aj aj aj aj aj aj
The rbalance rsheet rreportsrthe rending rbalancesrofrpermanent raccountsrasrofrthe rlast rday rof rth
aj aj aj aj aj aj aj aj aj aj
e raccounting rperiod.
aj aj aj
e)rChangesrin rretained rearningsrduring rthe raccounting rperiod rare rreportedron aj aj aj aj aj aj aj aj
rthe rincome rstatement.
aj aj
7) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rstockholders’ requityris rtrue
aj aj aj aj aj aj aj aj aj a
ror rfalse.
j aj aj
a)rExpensesrdecrease rretained rearnings. aj aj aj
b) rStockholders' requityrand rliabilitiesrcan rbe rviewed reither rasrsourcesrof
aj aj aj aj aj aj aj aj
rassetsror rclaimsrto rassetsrof rthe rbusiness.
aj aj aj aj aj
c)rRetained rearningsrisrincreased rby rloansrreceived rfromra rbank. aj aj aj aj aj aj
d)rDividendsrpaid rto rstockholdersrdecrease rcommon rstock. aj aj aj aj aj
e)rGenerally, rassetsrare rreported rat rthe ractual rprice rpaid rforrthemrwhen aj aj aj aj aj aj aj aj a
rpurchased rregardlessrof rsubsequent rchangesrin rmarket rvalue.
j aj aj aj aj aj aj
8) Jessup rCompany rwasrfounded rin rYear r1. rIt racquired r$45,000 rcash rby rissuing rstock rto ri
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
nvestorsrand ran radditional r$15,000 rcash rby rborrowing rfromrcreditors. rDuring rYearr1 rit rrec
aj aj aj aj aj aj aj aj aj aj aj
,eived aj
$25,000 rcash rrevenuesrand rpaid r$32,000 rin rcash rexpenses. rThe rcompanyrthen rwent rou
aj aj aj aj aj aj aj aj aj aj aj
t rof rbusiness.
aj aj aj
Required: aj
a) Explain rthe rterm, r"businessrliquidation."
aj aj aj aj aj
b) What ramount rofrcash rshould rJessup rCompanyrhave rhad ron rhand rimmediatelyrbefor
aj aj aj aj aj aj aj aj aj aj
e rgoing rout rof rbusiness?
aj aj aj aj aj
c) What ramount rofrcash rwill rJessup'srcreditorsrreceive?
aj aj aj aj aj aj
d) What ramount rofrcash rwill rJessup'srstockholdersrreceive?
aj aj aj aj aj aj
9) BatesrCompanyrentered rinto rthe rfollowing rtransactionsrduring ritsrfirst ryear rin rbusi
aj aj aj aj aj aj aj aj aj
ness. rAssume rthat rall rtransactionsrinvolve rthe rreceipt ror rpayment rof rcash.
aj aj aj aj aj aj aj aj aj aj aj
1) Issued rcommon rstock rto rinvestorsrfor r$25,000 rcash.
aj aj aj aj aj aj aj aj
2) Borrowed r$18,000 rfromrthe rlocal rbank.
aj aj aj aj aj aj
3) Provided rservicesrto rcustomersrforr$28,000.
aj aj aj aj
4) Paid rexpensesramounting rto r$21,400.
aj aj aj aj aj
5) Purchased ra rplot rofrland rcosting r$22,000.
aj aj aj aj aj aj aj
6) Paid ra rdividend rofr$15,000 rto ritsrstockholders.
aj aj aj aj aj aj aj
7) Repaid r$12,000 rofrthe rloan rlisted rin ritemr2.
aj aj aj aj aj aj aj aj
Required: aj
(a) Fill rin rthe rthree rcolumn rheadingsrofrthe raccounting requation rin rthe rfirst rrowrofrthe
aj aj aj aj aj aj aj aj aj aj aj aj
aj rtable rshown rbelow. aj aj aj
(b) Showrthe reffectsrofrthe rabove rtransactionsron rthe raccounting requation.
aj aj aj aj aj aj aj
Event rnumber = + aj aj aj aj
1. aj
2. aj
3. aj
4. aj
5. aj
6. aj
7. aj
Total aj
10) Each rofrthe rfollowing rrequirementsrisrindependent rofrthe rothers.
aj aj aj aj aj aj aj
, a) Valdez rCorporation rhasrliabilitiesrofr$95,000 rand rstockholders’ requityrofr$115,000.
aj aj aj aj aj aj aj
rWhat risrthe ramount rof rValdez'srassets?
aj aj aj aj aj
b) Global rCompanyrhasrassetsrofr$320,000 rand rliabilitiesrofr$95,000. rWhat risrthe r
aj aj aj aj aj aj aj
amount rof rGlobal'srstockholders’ requity? aj aj aj aj
c) Brown rCompanyrhasrassetsrofr$90,000 rand rliabilitiesrofr$25,000. rWhat risrthe ramount rof B
aj aj aj aj aj aj aj aj aj
rown'srclaims?
1) The rfollowing rbusinessreventsroccurred rforrRinggold rCompanyrduring rYearr1, rits rfirst
aj aj aj aj aj aj aj aj aj
ryear rin roperation: aj aj aj
1. Issued rstock rto rinvestorsrforr$45,000 rcash
aj aj aj aj aj aj
2. Borrowed r$25,000 rcash rfromrthe rlocal rbank
aj aj aj aj aj aj aj
3. Provided rservicesrto ritsrcustomersrand rreceived r$32,000 rcash
aj aj aj aj aj aj aj
4. Paid rexpensesrofr$28,000
aj aj aj
5. Paid r$22,000 rcash rforrland
aj aj aj aj aj
6. Paid rdividend rofr$12,000 rto rstockholders
aj aj aj aj aj aj
7. Repaid r$10,000 rofrthe rloan rlisted rin ritemr2
aj aj aj aj aj aj aj aj
Required: aj
a) Show rthe reffectsrofrthe rabove rtransactionsron rthe raccounting requation, rbelow. rInclude rd
aj aj aj aj aj aj aj aj aj aj aj
ollar ramountsrofrincreasesrand rdecreases. rEnterr"NA" rforrelementsrofrthe raccounting requation
aj aj aj aj aj aj
rthat rare rnot raffected rby rthe rtransaction. rIf rone relement rof rthe raccounting requation risraffec
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
ted rby ran rincrease rand ralso rby ra rdecrease, renterreach rpart ron ra rseparate rline. r(The reffectsr
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
of rthe rfirst rtransaction risrshown rbelow.)
aj aj aj aj aj aj
b) Afterrentering rall rthe revents, rcalculate rthe rtotal ramountsrofrassets, rliabilities
aj aj aj aj aj aj aj aj aj
, rand rstockholders’ requity rat rthe rend rof rthe ryear.
aj aj aj aj aj aj aj aj aj aj
Assets = Liabilities + Stockho aj aj aj aj
lders' Equity aj aj
Event number aj aj
1. 45,000 NA 45,000 2. aj aj aj aj aj
3. aj
4. aj
5. aj
6. aj
7. aj
Total
12) Ramirez rCompanyrexperienced rthe rfollowing reventsrduring rYear r1: 1.
aj aj aj aj aj aj aj aj aj
Acquired r$50,000 rcash rby rissuing rcommon rstock aj aj aj aj aj aj aj
2. Borrowed r$25,000 rcash rfromra rcreditor
aj aj aj aj aj aj
Concepts 11th Edition
By Thomas Edmonds, Philip Olds, Christopher Edmonds
Student name: aj aj
1) Indicate whether each of the following statements about markets is true or false. a) Fin
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
ancial resources can be provided to a business by investors. aj aj aj aj aj aj aj aj aj aj
b) Resource owners are the businesses that transform resources into products that s
aj aj aj aj aj aj aj aj aj aj aj ajaj
atisfy consumer desires.
aj aj aj
c) Labor resources include both the physical and intellectual labor of a business's e
aj aj aj aj aj aj aj aj aj aj aj aj ajaj
mployees. aj
d) Businesses purchase their resources from resource owners.
aj aj aj aj aj aj aj aj
e) Consumers are the main providers of resources in any market.
aj aj aj aj aj aj aj aj aj aj aj
2) Indicate whether each of the following statements about accounting information is true or false.
aj aj aj aj aj aj aj aj aj aj aj aj aj ajaj aj
a) Financial accounting is primarily intended to satisfy the information needs of i
aj aj aj aj aj aj aj aj aj aj aj ajaj
nternal stakeholders. aj aj
b) Managerial accounting information includes financial and nonfinancial
aj aj aj aj aj aj aj ajaj
information. aj
c) The accounting information intended to satisfy the needs of a company's
aj aj aj aj aj aj aj aj aj aj aj ajaj
employees is managerial accounting information.
aj aj aj aj aj
d) GAAP requires that companies adhere to financial accounting standards. e
aj aj aj aj aj aj aj aj aj aj
) Managerial accounting information is usually less detailed than financial accounting i
aj aj aj aj aj aj aj aj aj ajaj aj
nformation. aj
3) Indicate whether each of the following statements about liabilities is true or false.
aj aj aj aj aj aj aj aj aj aj aj aj aj aj
a) A net loss on the income statement decreases liabilities.
aj aj aj aj aj aj aj aj aj aj
b) The acquisition of a bank loan increases both assets and liabilities.
aj aj aj aj aj aj aj aj aj aj aj aj
c) The accounting equation requires that liabilities be equal to stockholders’ equity. d)
aj aj aj aj aj aj aj aj aj aj aj aj
The amount of a company's liabilities is equal to the difference between its assets and its stockho
aj aj aj aj aj aj aj aj aj aj aj aj aj aj ajaj aj aj
lders’ equity. aj aj
e) Liabilities are reported on the statement of cash flows of a business.
aj aj aj aj aj aj aj aj aj aj aj aj
4) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rretained rearningsrisrtrue rorrfalse.
aj aj aj aj aj aj aj aj aj aj
a)rArdividend rpaid rto rstockholdersrdecreasesrretained rearnings. aj aj aj aj aj
, b)rIssuing rcommon rstock rforrcash rincreasesrretained rearnings.
aj aj aj aj aj aj
c)rThe ramount rofrnet rincome rforra rperiod rmust requal rretained rearnings.
aj aj aj aj aj aj aj aj aj aj
d)rThe rpurchase rofra rtruck rdecreasesrretained rearnings.
aj aj aj aj aj aj
e)rNet rincome rincreasesrretained rearnings.
aj aj aj aj
5) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rthe rtypesrofrtransactionsris rtrue
aj aj aj aj aj aj aj aj aj aj
ror rfalse.aj aj
a)rAn rasset rsource rtransaction rincreasesrtotal rassetsrand rincreasesrclaimsrto rassets.
aj aj aj aj aj aj aj aj
b) rThe rissuance rofrstock rto rownersrforrcash rwould rbe ran rexample rofran
aj aj aj aj aj aj aj aj aj aj aj
rasset rexchange rtransaction.
aj aj aj
c)rPurchasing requipment rforrcash risran rexample rofran rasset ruse rtransaction. d)rPaying aj aj aj aj aj aj aj aj aj aj
ra rdividend rto rstockholdersrisran rexample rofran rasset ruse rtransaction. e)rMaking ra rpa
aj aj aj aj aj aj aj aj aj aj aj
yment ron ra rbank rloan risran rexample rofran rasset rexchange rtransaction.
aj aj aj aj aj aj aj aj aj aj aj
6) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rfinancial rstatementsris rtrue
aj aj aj aj aj aj aj aj aj a
ror rfalse.
j aj aj
a)rArcash rdividend rpaid rto rstockholdersrisrreported rin rthe rinvesting ractivities
aj aj aj aj aj aj aj aj a
j rsection rof rthe rstatement rof rcash rflows.
aj aj aj aj aj aj aj
b) rArcash rdividend rpaid rto rstockholdersrisrreportedron rthe rstatement rof
aj aj aj aj aj aj aj aj aj
rchangesrin rstockholders' requity. aj aj aj
c)rA rcash rdividend rpaid rto rstockholdersrisrreported ron rthe rincome rstatement. d)r
aj aj aj aj aj aj aj aj aj aj
The rbalance rsheet rreportsrthe rending rbalancesrofrpermanent raccountsrasrofrthe rlast rday rof rth
aj aj aj aj aj aj aj aj aj aj
e raccounting rperiod.
aj aj aj
e)rChangesrin rretained rearningsrduring rthe raccounting rperiod rare rreportedron aj aj aj aj aj aj aj aj
rthe rincome rstatement.
aj aj
7) Indicate rwhether reach rofrthe rfollowing rstatementsrabout rstockholders’ requityris rtrue
aj aj aj aj aj aj aj aj aj a
ror rfalse.
j aj aj
a)rExpensesrdecrease rretained rearnings. aj aj aj
b) rStockholders' requityrand rliabilitiesrcan rbe rviewed reither rasrsourcesrof
aj aj aj aj aj aj aj aj
rassetsror rclaimsrto rassetsrof rthe rbusiness.
aj aj aj aj aj
c)rRetained rearningsrisrincreased rby rloansrreceived rfromra rbank. aj aj aj aj aj aj
d)rDividendsrpaid rto rstockholdersrdecrease rcommon rstock. aj aj aj aj aj
e)rGenerally, rassetsrare rreported rat rthe ractual rprice rpaid rforrthemrwhen aj aj aj aj aj aj aj aj a
rpurchased rregardlessrof rsubsequent rchangesrin rmarket rvalue.
j aj aj aj aj aj aj
8) Jessup rCompany rwasrfounded rin rYear r1. rIt racquired r$45,000 rcash rby rissuing rstock rto ri
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
nvestorsrand ran radditional r$15,000 rcash rby rborrowing rfromrcreditors. rDuring rYearr1 rit rrec
aj aj aj aj aj aj aj aj aj aj aj
,eived aj
$25,000 rcash rrevenuesrand rpaid r$32,000 rin rcash rexpenses. rThe rcompanyrthen rwent rou
aj aj aj aj aj aj aj aj aj aj aj
t rof rbusiness.
aj aj aj
Required: aj
a) Explain rthe rterm, r"businessrliquidation."
aj aj aj aj aj
b) What ramount rofrcash rshould rJessup rCompanyrhave rhad ron rhand rimmediatelyrbefor
aj aj aj aj aj aj aj aj aj aj
e rgoing rout rof rbusiness?
aj aj aj aj aj
c) What ramount rofrcash rwill rJessup'srcreditorsrreceive?
aj aj aj aj aj aj
d) What ramount rofrcash rwill rJessup'srstockholdersrreceive?
aj aj aj aj aj aj
9) BatesrCompanyrentered rinto rthe rfollowing rtransactionsrduring ritsrfirst ryear rin rbusi
aj aj aj aj aj aj aj aj aj
ness. rAssume rthat rall rtransactionsrinvolve rthe rreceipt ror rpayment rof rcash.
aj aj aj aj aj aj aj aj aj aj aj
1) Issued rcommon rstock rto rinvestorsrfor r$25,000 rcash.
aj aj aj aj aj aj aj aj
2) Borrowed r$18,000 rfromrthe rlocal rbank.
aj aj aj aj aj aj
3) Provided rservicesrto rcustomersrforr$28,000.
aj aj aj aj
4) Paid rexpensesramounting rto r$21,400.
aj aj aj aj aj
5) Purchased ra rplot rofrland rcosting r$22,000.
aj aj aj aj aj aj aj
6) Paid ra rdividend rofr$15,000 rto ritsrstockholders.
aj aj aj aj aj aj aj
7) Repaid r$12,000 rofrthe rloan rlisted rin ritemr2.
aj aj aj aj aj aj aj aj
Required: aj
(a) Fill rin rthe rthree rcolumn rheadingsrofrthe raccounting requation rin rthe rfirst rrowrofrthe
aj aj aj aj aj aj aj aj aj aj aj aj
aj rtable rshown rbelow. aj aj aj
(b) Showrthe reffectsrofrthe rabove rtransactionsron rthe raccounting requation.
aj aj aj aj aj aj aj
Event rnumber = + aj aj aj aj
1. aj
2. aj
3. aj
4. aj
5. aj
6. aj
7. aj
Total aj
10) Each rofrthe rfollowing rrequirementsrisrindependent rofrthe rothers.
aj aj aj aj aj aj aj
, a) Valdez rCorporation rhasrliabilitiesrofr$95,000 rand rstockholders’ requityrofr$115,000.
aj aj aj aj aj aj aj
rWhat risrthe ramount rof rValdez'srassets?
aj aj aj aj aj
b) Global rCompanyrhasrassetsrofr$320,000 rand rliabilitiesrofr$95,000. rWhat risrthe r
aj aj aj aj aj aj aj
amount rof rGlobal'srstockholders’ requity? aj aj aj aj
c) Brown rCompanyrhasrassetsrofr$90,000 rand rliabilitiesrofr$25,000. rWhat risrthe ramount rof B
aj aj aj aj aj aj aj aj aj
rown'srclaims?
1) The rfollowing rbusinessreventsroccurred rforrRinggold rCompanyrduring rYearr1, rits rfirst
aj aj aj aj aj aj aj aj aj
ryear rin roperation: aj aj aj
1. Issued rstock rto rinvestorsrforr$45,000 rcash
aj aj aj aj aj aj
2. Borrowed r$25,000 rcash rfromrthe rlocal rbank
aj aj aj aj aj aj aj
3. Provided rservicesrto ritsrcustomersrand rreceived r$32,000 rcash
aj aj aj aj aj aj aj
4. Paid rexpensesrofr$28,000
aj aj aj
5. Paid r$22,000 rcash rforrland
aj aj aj aj aj
6. Paid rdividend rofr$12,000 rto rstockholders
aj aj aj aj aj aj
7. Repaid r$10,000 rofrthe rloan rlisted rin ritemr2
aj aj aj aj aj aj aj aj
Required: aj
a) Show rthe reffectsrofrthe rabove rtransactionsron rthe raccounting requation, rbelow. rInclude rd
aj aj aj aj aj aj aj aj aj aj aj
ollar ramountsrofrincreasesrand rdecreases. rEnterr"NA" rforrelementsrofrthe raccounting requation
aj aj aj aj aj aj
rthat rare rnot raffected rby rthe rtransaction. rIf rone relement rof rthe raccounting requation risraffec
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
ted rby ran rincrease rand ralso rby ra rdecrease, renterreach rpart ron ra rseparate rline. r(The reffectsr
aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj aj
of rthe rfirst rtransaction risrshown rbelow.)
aj aj aj aj aj aj
b) Afterrentering rall rthe revents, rcalculate rthe rtotal ramountsrofrassets, rliabilities
aj aj aj aj aj aj aj aj aj
, rand rstockholders’ requity rat rthe rend rof rthe ryear.
aj aj aj aj aj aj aj aj aj aj
Assets = Liabilities + Stockho aj aj aj aj
lders' Equity aj aj
Event number aj aj
1. 45,000 NA 45,000 2. aj aj aj aj aj
3. aj
4. aj
5. aj
6. aj
7. aj
Total
12) Ramirez rCompanyrexperienced rthe rfollowing reventsrduring rYear r1: 1.
aj aj aj aj aj aj aj aj aj
Acquired r$50,000 rcash rby rissuing rcommon rstock aj aj aj aj aj aj aj
2. Borrowed r$25,000 rcash rfromra rcreditor
aj aj aj aj aj aj
