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The following transactions occurred in July 2022: Jul 5 Paid P Chan, a creditor, $70 , 000 by cheque. 11 Repaid W Yeung's loan
The following transactions occurred in July 2022: Jul 5 Paid P Chan, a creditor, $70 , 000 by cheque. " 11 Repaid W Yeung's loan of $100 , 000 by cheque. " 18 Bought office equipment for $55 , 000 on credit. " 21 M Chau drew a cheque for $80 , 000 and deposited it into the business bank account. " 25 Returned to the supplier defective office equipment bought on 18 July 2022 . The equipment cost $10 , 000 . " 28 M Chau brought in furniture valued at $35 , 000 for business use. " 31 Received bank interest of $450 . Show how the assets, capital and liabilities of M Chau's business would appear as at 31 July 2022. ( 9 marks)
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