C Sangster has the following items in his balance sheet as on 30 April 19X8: Capital 20,900;
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C Sangster has the following items in his balance sheet as on 30 April 19X8:
Capital £20,900; Creditors £1,600; Fixtures £3,500; Motor vehicle £4,200; Stock of goods £4,950;
Debtors £3,280; Cash at bank £6,450; Cash in hand £120.
During the first week of May 19X8:
(a) He bought extra stock of goods £770 on credit.
(b) One of the debtors paid him £280 in cash.
(c) He bought extra fixtures by cheque £1,000.
You are to draw up a balance sheet as on 7 May 19X8 after the above transactions have been completed.
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