Question
Eida Accessories has the following assets and liabilities as on 30 November 2022: Account Payable $2,800; Equipment $6,200; Car $7,300; Inventory $8,100; Account Receivable $4,050;
Eida Accessories has the following assets and liabilities as on 30 November 2022: Account Payable $2,800; Equipment $6,200; Car $7,300; Inventory $8,100; Account Receivable $4,050; Cash at bank $9,100; Cash in hand $195.
You are not given the capital amount at that date.
During the first week of December 2022:
(a) Eida bought extra equipment on credit for $110.
(b) Eida bought extra inventory by cheque $380.
(c) Eida paid Account Payable by cheque $1,150.
(d) Account Receivable paid Eida $640 by cheque and $90 by cash.
(e) Eida put in an extra $1,500 into the business, $1,300 by cheque and $200 in cash.
You are to draw up a Trial Balance on 7 December 2022 after the above transactions have been completed.
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