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The statement of financial position of a Tesco business at the start of the week is as follows: f 148,000 66,000 30,000 35,000 ASSETS Property
The statement of financial position of a Tesco business at the start of the week is as follows: f 148,000 66,000 30,000 35,000 ASSETS Property Furniture and fittings Inventories Trade receivables Total Assets Equity and Liabilities Equity Short-term borrowings (Bank overdraft) Trade Payables Total Equity and Liabilities 279,000 206,000 46,000 27,000 279,000 During the week, the following transactions take place: 1. Sold inventories for 15,000 cash; these inventories had cost 9,000. 2. Sold inventories for 27,000 on credit; these inventories had cost 19,000. 3. Received cash from trade receivables totalling 19,000. 4. The owners of the business introduced 96,000 of their own money, which was placed in the business bank account. 5. The owners brought a motor van, valued at 23,000, into the business. 6. Bought inventories on credit for 16,000. 7. Paid trade payables 15,000. Required: Show the statement of financial position after all of these transactions have been reflected
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