Accounting task

7. At the beginning of the period the balance sheet of the organization had the following assets and liabilities ($) Inventories 14,000 Debtors (customers ) 30,100 Creditors ( suppliers) 12.600 During the first half of 2013 sales of the company were $192,500, material costs in the cost of goods sold amounted to $98,000. Data on 01/07/2013 ($) Inventories 17,500 Debtors (customers ) 28700 Creditors (suppliers) 18900 Using the balance equation determine the amount of payments to creditors and the amount of receipt from customers. Taxation is not taken Into account. All suppliers are suppliers of materials. 8. Company Balance as at 31.12.2012 included the following items ($): Cash 2000 Authorized capital 2000, Accounts receivable 5,400 Accounts payable -5400 For the period following transactions were committed: There were purchased goods for $1,500 that were sold for $2,600. Calculate the financial result for the period (profit or loss) and the amount of cash that was received from customers and payments to creditors. All purchases during the reporting period were made on terms of immediate payment, and all sales - on credit terms. The amount of accounts receivables at the end of the period was $6,600. Prepare the balance sheet for the period