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Use the information given below to prepare the Statement of financial position as at 07 January 2015 after the transactions for the week ended 07
Use the information given below to prepare the Statement of financial position as at 07 January 2015 after the transactions for the week ended 07 January 2015 are taken into account. Information The balance sheet of a business as at 01 January 2015 included the following items: Transactions During the week ended 07 January 2012 the following transactions took place: Inventories were sold for R16500 cash; these inventories had cost R120000 Sold inventories for R345000 on credit, these inventories had cost R255000 Received cash from debtors totaling R270000 I The owners introduced R1500000 cash into the business Ten computer were purchased on credit, R15000 Bought inventories on credit for R210000
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