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The statement of financial position of a business at the start of the week is as follows: ASSETS Property 145,000 Furniture and fittings 63,000 Inventories

The statement of financial position of a business at the start of the week is as follows:

ASSETS
Property 145,000
Furniture and fittings 63,000
Inventories 28,000
Trade receivables 33,000
Total assets 269,000
EQUITY AND LIABILITIES
Equity 203,000
Short-term borrowing (bank overdraft) 43,000
Trade payables 23,000
Total equity and liabilities 269,000

During the week the following transactions take place:

  1. Sold inventories for 11,000 cash; these inventories had cost 8,000.

  2. Sold inventories for 23,000 on credit; these inventories had cost 17,000.

  3. Received cash from trade receivables totalling 18,000.

  4. The owners of the business introduced 100,000 of their own money, which was placed in the business bank account.

  5. The owners brought a motor van, valued at 10,000, into the business.

  6. Bought inventories on credit for 14,000.

  7. Paid trade payables 13,000.

Required:

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

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