C Sangster has the following items in his balance sheet as on 30 April 19X4. Capital 18,900;
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C Sangster has the following items in his balance sheet as on 30 April 19X4.
Capital £18,900; Loan from T Sharpies £2,000; Creditors £1,600; Fixtures £3,500; Motor vehicle £4,200; Stock of goods £4,950; Debtors £3,280; Cash at bank £6,450; Cash in hand
£120.
During the first week of May 19X4 Sangster:
(a) Bought extra stock of goods £770 on credit.
(b) One of the debtors paid us £280 in cash.
(c) Bought extra fixtures by cheque £1,000.
You are to draw up a balance sheet as on 7 May 19X4 after the above transactions have been completed.
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