Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mr Chin has the following items in his balance sheet as at 31st January 2020. Capital 20900 Creditors 1600 Fixtures 3500 Motor vehicle 4200 Stock
Mr Chin has the following items in his balance sheet as at 31st January 2020.
Capital 20900
Creditors 1600
Fixtures 3500
Motor vehicle 4200
Stock of goods 4950
Debtors 3280
Cash at bank 6450
Cash in hand 120
During the first week of the month Mr chin,
1)bought extra stock of goods 7700 on credit
2) one of the debtors paid 2800 in cash
3) bought extra fixtures by cheque 1000
Draw up the balance sheet as at 31st January, 2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started