E Silva has the following items in her balance sheet as on 7 April 2005: Capital 18,370;

Question:

E Silva has the following items in her balance sheet as on 7 April 2005: Capital £18,370;

Creditors £2,100; Fixtures £2,800; Car £6,650; Stock of goods £3,180; Debtors £2,780; Bank £4,150;

Cash in hand £910.

During the first week of April 2005

(a) She bought extra stock for goods £910 on credit.

(b) One of the debtors paid her £330 in cash.

(c) She bought a PC by cheque £560.

You are asked to draw up a balance sheet as on 7 April 2005 after the above transactions have been completed.

Step by Step Answer:

Related Book For  book-img-for-question

Business Accounting Uk Gaap Volume 1

ISBN: 9780273718765

1st Edition

Authors: Frank Wood, Alan Sangster

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