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The statement of financial position of Dornier & Co at the start of the month is as follows: (Click here to view assets table.)
The statement of financial position of Dornier & Co at the start of the month is as follows: (Click here to view assets table.) (Click here to view claims table.) During the month the following transactions take place: (a) Received cash from trade receivables totalling 14,000 (b) 3,500 of the bank loan was repaid. (c) Inventories sold for 14,000 cash; these inventories had cost 8,750 (d) Sold inventories for 18,000 on credit; these inventories had cost 10,800 (e) The owners of the business withdrew 4,000 for their personal use. (f) The owners brought a computer, valued at 2,500, into the business. (g) Fixtures and fittings were purchased costing 11,000. Half of the amount due was paid during the month and the Data table The statement of financial position of Dornier & Co at the end of the month is as follows: Assets Premises Claims Equity 269,000 Motor vehicles Fixtures and fittings Computer Inventories Trade receivables Bank Bank loan 25,000 Trade payables 11,000 305,000 Print Claims Equity (or capital) Bank loan Trade payables Other payables Data table Assets Inventories 29,000 Motor vehicles 24,000 Premises 220,000 Trade receivables 26,000 Bank 6,000 305,000
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