The balance sheet of a business at the start of the week is as follows: Required: Show
Question:
The balance sheet of a business at the start of the week is as follows:
Required:
Show the balance sheet after all of these transactions have been reflected.
Transcribed Image Text:
Assets Freehold premises Furniture and fittings Stock in trade Trade debtors (receivables) Claims 145,000 Capital 203,000 63,000 Bank overdraft 43,000 28,000 33,000 Trade creditors (payables) 23,000 269,000 269,000 During the week the following transactions take place: (a) Stock sold for 11,000 cash; this stock had cost 8,000. (b) Sold stock for 23,000 on credit; this stock had cost 17,000. (c) Received cash from trade debtors totalling 18,000. (d) The owners of the business introduced 100,000 of their own money, which was placed in the business bank account. (e) The owners brought a motor van, valued at 10,000, into the business. (f) Bought stock in trade on credit for 14,000. (g) Paid trade creditors 13,000.
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Related Book For
Financial Accounting For Decision Makers
ISBN: 9780273688471
4th Edition
Authors: Eddie McLaney, Peter Atrill
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