Kevin started a business on 3 April. His first transactions were as follows:

Required:

Draw up Kevin's balance sheet as at 30 April.

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3 April Kevin paid 40,000 into a business bank account. He also transferred to the business a motor van valued at 11,500 and equipment valued at 9,000. 4 April 5 April 7 April 8 April A loan from Kevin's father of 25,000 was paid into the business bank account. Kevin has agreed to repay the money in two year's time. Retail premises costing 45.000 were paid for by business cheque. Further equipment was acquired costing 12,500. This was paid for by business cheque. Goods for resale were acquired on credit from P Thomas at a cost of 17,500. 17 April Stock costing 11,200 was sold for 18,600. Half of this money was received immediately and was paid (by mistake) into Kevin's personal bank account. The other half was a sale of goods on credit to B Parsons. 19 April Goods for resale were bought at a cost of 12,000 and were paid for by business cheque. 29 April 30 April 30 April Stock costing 11,600 was sold on credit to F Davis for 19,100. A business cheque for 8,750 was sent to P Thomas. Kevin was paid 1,000 out of the business bank account as his salary for April.