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On 1 August, Lisa Turner started a new business. During August she carried out the following transactions: 1 August: Deposited 22,000 in a newly-opened business
- On 1 August, Lisa Turner started a new business. During August she carried out the following transactions:
- 1 August: Deposited €22,000 in a newly-opened business bank account.
- 2 August: Bought equipment for €6,500 cash and inventories €7,500 on credit.
- 3 August: Borrowed €3,000 from a relative and deposited it in the bank.
- 4 August: Bought a company car for €8,000 cash and withdrew €500 in cash for her own use.
- 5 August: Bought a further company car costing €13,000. The car bought on 4 August was given in part exchange at a value of €6,000. The balance of the purchase price for the new car was paid in cash.
- 6 August: Turner won €2,500 in a lottery and paid the amount into the business bank account. She also repaid €1,000 of the borrowings.
Required: Draw up a statement of financial position for the business at the end of each day.
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