Jackie Had the Following Transactions in the Year

question 3

Multiple Choice

Jackie had the following transactions in the year. Put £180000 of her own money into the business bank account. Took out a 40 year lease on the premises at a cost of £80000, bought fixtures and fittings or £12000 which she thinks will last four years and then be worth nothing and a car for £15000 which she will use for three years and then sell or an estimated £3000. All assets are to be depreciated or amortised over their useful lives using straight line depreciation.
- What is the carrying value of Jackie's fixed assets and how much is in the bank account at the end of the year?

• A) £107000 and £73000
• B) £98000 and £73000
• C) £97000 and - £107000
• D) £94000 and £73000
• E) £95000 and £73000

---

Definitions:

Desirable Properties

Characteristics or features that are sought after or considered beneficial in various contexts, including but not limited to real estate, personal qualities, or product features.

Market Niche

A specific, focused segment of the market that a company aims to serve with its products or services.

Gap Khakis

A specific line of casual pants made by the Gap Inc., characterized by their khaki fabric.

Rationalization

The process of replacing traditional and emotional thought with reason and practicality, often in the context of organizational and technological changes.