Apple Inc.
Initial Financial Position (30 November 2022):

• Creditors: $1,500,000
• Equipment: $11,000,000
• Motor vehicle: $6,800,000
• Stock of goods: $8,000,000
• Debtors: $5,000,000
• Cash at bank: $15,000,000
• Cash in hand: $50,000

The capital at that date is to be deduced by you.
During the first week of December 2022:
(a) Apple bought extra equipment on credit for $1,800,000.
(b) Apple bought extra stock by cheque $570,000.
(c) Apple paid creditors by cheque $790,000.
(d) Debtors paid Apple $840,000 by cheque and $60,000 by cash.
(e) Apple put in an extra $250,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2022 after the above transactions have been completed.