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During June the following transactions take place for Martijn's business: Sold inventories for 11,000 cash; these inventories had cost 8,000. Sold inventories for 23,000 on
During June the following transactions take place for Martijn's business:
- Sold inventories for 11,000 cash; these inventories had cost 8,000.
- Sold inventories for 23,000 on credit; these inventories had cost 17,000.
- Received cash from trade receivables totalling 18,000.
- The owners of the business introduced 100,000 of their own money, which was placed in the business bank account.
- The owners brought a motor van, valued at 10,000 into the business.
- Bought inventories on credit for 14,000.
- Paid trade payables 13,000.
The following is the list of assets and claims at the start of June: 10,500 Cash at bank, 37,800 Trade receivables, 25,200 Inventories, 58,800 Furniture, 126,000 Property, 48,300 Trade payables, 210,000 Equity.
Required: Show the statement of financial position transactions at the end of June.(Show the final numbers for each item in the statement and show under the statement how you got the final number for each item).
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