F Dale has the following assets and liabilities as on 30 November 19X1: Creditors 3,950; Equipment 11,500;
Question:
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.
Step by Step Answer:
Related Book For
Question Posted: