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QUESTION
J Smith commenced business on 1 November 2012 with Premises $150,000, Bank 20,000, Plant amp; Machinery $15,000, Inventory $10,000,
Instruction for the students:
Process the above transactions (including the one for new business commencement) in the accounting equation format.
Hint: Calculate opening Capital to balance the accounting equation at the commencement of the business.
