Facebook Inc.
Initial Financial Position (30 November 2019):

• Creditors: $1,800,000
• Equipment: $11,500,000
• Motor vehicle: $6,500,000
• Stock of goods: $8,000,000
• Debtors: $5,500,000
• 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 2019:
(a) Facebook bought extra equipment on credit for $1,500,000.
(b) Facebook bought extra stock by cheque $600,000.
(c) Facebook paid creditors by cheque $800,000.
(d) Debtors paid Facebook $700,000 by cheque and $50,000 by cash.
(e) Facebook put in an extra $250,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2019 after the above transactions have been completed.