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Statement of financial position at the start of the week: ASSETS $ Property 160,000 Office Equipment 90,000 Inventories 32,000 Trade receivables 45,000 Total assets 327,000

Statement of financial position at the start of the week:

ASSETS

$

Property

160,000

Office Equipment

90,000

Inventories

32,000

Trade receivables

45,000

Total assets

327,000

EQUITY AND LIABILITIES

$

Equity

230,000

Short-term borrowing

55,000

Trade payables

42,000

Total equity and liabilities

327,000

Transactions:

(a) Sold inventories for $14,000 cash; these inventories had cost $11,000.

(b) Sold inventories for $22,000 on credit; these inventories had cost $16,000.

(c) Received cash from trade receivables totaling $19,000.

(d) The owners of the business introduced $130,000 of their own money, which was placed in the business bank account.

(e) The owners bought a motorbike, valued at $13,000, into the business.

(f) Bought inventories on credit for $15,000.

(g) Paid trade payables $11,000.

Required:

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

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