Question
J. Hill has the following assets and liabilities as on 30 November 20X9: Creditors 2,800; Equipment 6,200; Car 7,300; Stock of goods 8,100; Debtors 4,050;
J. Hill has the following assets and liabilities as on 30 November 20X9: Creditors 2,800; Equipment 6,200; Car 7,300; Stock of goods 8,100; Debtors 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 20X9 (a) Hill bought extra equipment on credit for 110. (b) Hill bought extra stock by cheque 380. (c) Hill paid creditors by cheque 1,150. (d) Debtors paid Hill 640 by cheque and 90 by cash. (e) Hill put in an extra 1,500 into the business, 1,300 by cheque and 200 in cash. You are to draw up a balance sheet as on 7 December 20X9 after the above transactions have been completed.
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