Harrison Fords is the owner of Fine Artist Ltd, and during November, the following transactions occurred: RequieD:
Question:
Harrison Fords is the owner of Fine Artist Ltd, and during November, the following transactions occurred:
RequieD: Prepare an SFP for Harrison Fords as of 30 November.
Transcribed Image Text:
Nov. 2 Nov. in 5 30 Harrison Fords started the business by depositing 23,000 into the business bank account. Borrowed 30,000 from the bank to purchase shop premises. Purchased premises the same day. Bought shop fittings for 3,000, paid by cheque. Purchased inventory for resale for 5,500 on credit from his major supplier. Sold 3,000 of inventory for 3,000 cash. Paid 2,500 cash into the business bank account. Bought office equipment for 3,500- paid by cheque. Bought office furniture for 9,500- paid by cheque. Paid by cheque 4,000 to his supplier as part settlement of the account. Repaid by cheque 15,000 of the loan raised by the bank on 5 November. Won 5,000 in a lottery and paid this cheque into his business bank account. Sold 800 of inventory to a customer for 800 on credit. Nov. 8 Nov. 10 Nov. 13 Nov. 16 Nov. 18 Nov. 21 Nov. 24 Nov. 26 Nov. 29 Nov.
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