G Brown has the following items in her balance sheet as on 30 April 20X8: Capital 18,400;

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G Brown has the following items in her balance sheet as on 30 April 20X8: Capital £18,400; Creditors £2,100; Fixtures £2,800; Car £3,900; Stock of goods £4,550; Debtors £2,780; Cash at bank £6,250; Cash in hand £220.

During the first week of May 20X8

(a) She bought extra stock for goods £400 on credit.

(b) One of the debtors paid her £920 by cheque.

You are asked to draw up a balance sheet as on 7 May 20X8 after the above transactions have been completed.

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Frank Woods Business Accounting Volume 1

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Authors: Frank Wood, Alan Sangster

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Question Posted: Aug 19, 2023 06:10 AM

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G Brown has the following items in her balance sheet as on 30 April 20X8: Capital 18,400;

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To update G Browns balance sheet after the transactions that occurred during the first week of May 2...View the full answer

Frank Woods Business Accounting Volume 1

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