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Statement of financial position at the start of the week: ASSETS Property 175,000 Solar Panels 85,000 Inventories 30,000 Trade receivables 37,000 Total assets 327,000

Statement of financial position at the start of the week:

ASSETS

Property

175,000

Solar Panels

85,000

Inventories

30,000

Trade receivables

37,000

Total assets

327,000

EQUITY AND LIABILITIES

Equity

245,000

Short-term borrowing

50,000

Trade payables

32,000

Total equity and liabilities

327,000

Transactions:

(a) Sold inventories for €11,000 cash; these inventories had cost €8,000.

(b) Sold inventories for €24,000 on credit; these inventories had cost €18,000.

(c) Received cash from trade receivables totaling €17,000.

(d) The owners of the business introduced €115,000 of their own money, which was placed in the business bank account.

(e) The owners bought a generator, valued at €12,000, into the business.

(f) Bought inventories on credit for €14,000.

(g) Paid trade payables €13,000.

Required:

Show the statement of financial position after all of these transactions have been reflected.

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