ExxonMobil Corp.
Initial Financial Position (30 November 2015):

• Creditors: $1,900,000
• Equipment: $11,000,000
• Motor vehicle: $6,000,000
• Stock of goods: $8,500,000
• Debtors: $5,800,000
• Cash at bank: $16,000,000
• Cash in hand: $60,000

The capital at that date is to be deduced by you.
During the first week of December 2015:
(a) ExxonMobil bought extra equipment on credit for $1,500,000.
(b) ExxonMobil bought extra stock by cheque $600,000.
(c) ExxonMobil paid creditors by cheque $900,000.
(d) Debtors paid ExxonMobil $800,000 by cheque and $60,000 by cash.
(e) ExxonMobil put in an extra $300,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2015 after the above transactions have been completed.
Question 10: JPMorgan Chase & Co.
Initial Financial Position (30 November 2014):

• Creditors: $2,300,000
• Equipment: $13,500,000
• Motor vehicle: $7,500,000
• Stock of goods: $9,000,000
• Debtors: $6,500,000
• Cash at bank: $18,000,000
• Cash in hand: $70,000

The capital at that date is to be deduced by you.
During the first week of December 2014:
(a) JPMorgan Chase bought extra equipment on credit for $2,000,000.
(b) JPMorgan Chase bought extra stock by cheque $750,000.
(c) JPMorgan Chase paid creditors by cheque $1,100,000.
(d) Debtors paid JPMorgan Chase $1,000,000 by cheque and $70,000 by cash.
(e) JPMorgan Chase put in an extra $400,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2014 after the above transactions have been completed.