Question
On 1 August, Sarah White 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, Sarah White 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 software for £4,000 cash and inventories £5,000 on credit.
3 August: Borrowed £3,000 from a friend and deposited it in the bank.
4 August: Bought a scooter for £8,000 cash and withdrew £250 in cash for her own use.
5 August: Bought additional software costing £6,000. The scooter bought on 4 August was given in part exchange at a value of £4,500. The balance of the purchase price for the new software was paid in cash.
6 August: White received a grant of £2,000 and paid the amount into the business bank account. She also repaid £1,000 of the borrowings.
Required:
Draw up a capital expenditure report for the business at the end of each day.
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