Alphabet Inc.
Initial Financial Position (30 November 2020):

• Creditors: $2,500,000
• Equipment: $13,000,000
• Motor vehicle: $7,500,000
• Stock of goods: $9,500,000
• Debtors: $6,500,000
• Cash at bank: $18,000,000
• Cash in hand: $50,000

The capital at that date is to be deduced by you.
During the first week of December 2020:
(a) Alphabet bought extra equipment on credit for $1,800,000.
(b) Alphabet bought extra stock by cheque $700,000.
(c) Alphabet paid creditors by cheque $1,000,000.
(d) Debtors paid Alphabet $900,000 by cheque and $60,000 by cash.
(e) Alphabet put in an extra $300,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2020 after the above transactions have been completed.