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The statement of financial position of Dornier & Co at the start of the month is as follows: Assets Inventories 29,000 Motor vehicles 24,000

The statement of financial position of Dornier & Co at the start of the month is as follows:

Assets £ 

Inventories 29,000 

Motor vehicles 24,000 

Premises 220,000 

Trade receivables 26,000 

Bank 6,000 

TOTAL 

ASSETS 305,000 

Claims £ 

Equity 269,000 

Bank loan 25,000 

Trade payables 11,000 

TOTAL 305,000 

During the month the following transactions take place: 

(a) Received cash from trade receivables totalling £11,000 

(b) £5,000 of the bank loan was repaid. 

(c) Inventories sold for £17,000 cash; these inventories had cost £10,625 

(d) Sold inventories for £20,000 on credit; these inventories had cost £12,000 

(e) The owners of the business withdrew £5,000 for their personal use. 

(f) The owners brought acomputer, valued at £2,500, into the business. 

(g) Fixtures and fittings were purchased costing £12,000. Half of the amount due was paid during the month and the remainder is due to be paid next month. 

(h) Paid trade payables £10,000. 

(i) Bought inventories on credit for £19,000.


Required: 

Show the statement of financial position at the end of the month after all of the above transactions have been taken into account.


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