H Clark Ltd.
Initial Financial Position (30 November 2023):

• Creditors: £5,200
• Equipment: £10,500
• Motor vehicle: £5,800
• Stock of goods: £5,900
• Debtors: £5,600
• Cash at bank: £6,700
• Cash in hand: £30

The capital at that date is to be deduced by you.
During the first week of December 2023:
(a) Clark bought extra equipment on credit for £1,200.
(b) Clark bought extra stock by cheque £600.
(c) Clark paid creditors by cheque £850.
(d) Debtors paid Clark £700 by cheque and £50 by cash.
(e) Clark put in an extra £280 cash as capital.
You are to draw up a balance sheet as on 7 December 2023 after the above transactions have been completed.
Question 3: J Smith Ltd.
Initial Financial Position (30 November 2021):

• Creditors: £4,200
• Equipment: £11,200
• Motor vehicle: £6,100
• Stock of goods: £6,000
• Debtors: £5,900
• Cash at bank: £7,400
• Cash in hand: £60

The capital at that date is to be deduced by you.
During the first week of December 2021:
(a) Smith bought extra equipment on credit for £1,300.
(b) Smith bought extra stock by cheque £620.
(c) Smith paid creditors by cheque £800.
(d) Debtors paid Smith £750 by cheque and £70 by cash.
(e) Smith put in an extra £290 cash as capital.
You are to draw up a balance sheet as on 7 December 2021 after the above transactions have been completed.