The statement of financial position of Bharwani Traders on 31 October 204 is shown below. On 1
Question:
The statement of financial position of Bharwani Traders on 31 October 20–4 is shown below.
On 1 November 20–4 the following transactions took place:
A cheque for $3 000 was paid to a credit supplier.
A credit customer paid $500 in cash.
A loan for $8 000, which was paid into the bank, was received from Lenders Limited.
A cheque for $7 000 was paid for an additional machine.
Prepare the statement of financial position of Bharwani Traders on 1 November 20–4 after the above transactions have taken place.
Transcribed Image Text:
Bharwani Traders Statement of financial position at 31 October 20-4 Assets Liabilities Machinery 19000 Capital 35000 Motor vehicles 6000 Trade payables 8000 Inventory 4900 Trade receivables 3000 Bank 10 100 43000 43000 %24
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Workings i The cheque will reduce trade payables and reduce cash Journal entry Date Particulars DR C...View the full answer
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Related Book For
Cambridge IGCSE And O Level Accounting Coursebook
ISBN: 9781316502778
2nd Edition
Authors: Catherine Coucom
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