F Dale has the following assets and liabilities as on 30 November 19X1: Creditors 3,950; Equipment 11,500;

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F Dale has the following assets and liabilities as on 30 November 19X1:

Creditors £3,950; Equipment £11,500; Motor vehicle £6,290; Stock of goods £6,150; Debtors

£5,770; Cash at bank £7,280; Cash in hand £40.

The capital at that date is to be deduced by you.

During the first week of December 19X1, Dale:

(a) Bought extra equipment on credit for £1,380.

(b) Bought extra stock by cheque £570.

[c] Paid creditors by cheque £790.

[d] Debtors paid us £840 by cheque and £60 by cash.

{e) D Terry lerlt Dale £250 cash.

You are to draw up a balance sheet as on 7 December 19X1 after the above transactions have been completed.

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