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Please type your answer in detail 15.6A The following information relates to A. Trader's business: Assets and liabilities at 1 January 2019 31 December 2019
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15.6A The following information relates to A. Trader's business: Assets and liabilities at 1 January 2019 31 December 2019 E Fixtures 18,000 16,200 Accounts receivable 4,800 5,800 Inventory 24,000 28,000 Accounts payable 8,000 11,000 Cash 760 240 Balance at bank 15,600 4,600 Loan from B. Burton 6,000 2,000 Motor vehicle 16,000 During the year, Trader had sold some of his personal investments for 4,000 which he paid into the business bank account, and he had drawn out 200 weekly for private use. Required: Prepare a balance sheet as at 31 December 2019 and give the net profit as at that dateStep by Step Solution
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