Citigroup Inc.
Initial Financial Position (30 November 2015):

• Creditors: $3,300,000
• Equipment: $14,000,000
• Motor vehicle: $8,000,000
• Stock of goods: $10,000,000
• Debtors: $6,800,000
• Cash at bank: $19,000,000
• Cash in hand: $80,000

The capital at that date is to be deduced by you.
During the first week of December 2015:
(a) Citigroup bought extra equipment on credit for $2,500,000.
(b) Citigroup bought extra stock by cheque $800,000.
(c) Citigroup paid creditors by cheque $1,400,000.
(d) Debtors paid Citigroup $1,100,000 by cheque and $90,000 by cash.
(e) Citigroup put in an extra $400,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2015 after the above transactions have been completed.