Tesla Inc.
Initial Financial Position (30 November 2018):

• Creditors: $2,200,000
• Equipment: $14,000,000
• Motor vehicle: $8,000,000
• Stock of goods: $10,000,000
• Debtors: $6,500,000
• Cash at bank: $18,000,000
• Cash in hand: $60,000

The capital at that date is to be deduced by you.
During the first week of December 2018:
(a) Tesla bought extra equipment on credit for $2,000,000.
(b) Tesla bought extra stock by cheque $750,000.
(c) Tesla paid creditors by cheque $1,200,000.
(d) Debtors paid Tesla $1,000,000 by cheque and $70,000 by cash.
(e) Tesla put in an extra $300,000 cash as capital.
You are to draw up a balance sheet as on 7 December 2018 after the above transactions have been completed.