Julie Chang has the following balance sheet as at 30 September 20-8: LO6 Balance Sheet as at 30 September 20-8 Assets £
Liabilities £
Fixtures and fittings 2,000 Capital 10,600 Stock of goods 1,500 Creditors 1,400 Debtors 1,800 Cash in hand 150 Cash at bank 6,550 12,000 12,000 During the first week of October 20-8 the following transactions took place;
1 October She paid a cheque of £500 to a creditor 3 October She bought a motor vehicle costing £4,500, paying by cheque 7 October She received a loan of £3,000 by cheque from S Wong You are required to draw up Julie Chang’s balance sheet as at 7 October 20-
8 after the above transactions have been completed.