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Determine the capital as at may

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Question - D Moody has the following assets and liabilities as on 31 April 2002: Sh. Creditors 15,800 Equipment 46,000 Motor Vehicle 25,160 Stock 24,600 Debtors 23,080 Cash at bank 29,120 Cash in hand 160. During the first week of May 2002 Moody: a. Bought extra equipment on credit for Sh.5,520. b. Bought extra stock by cheque Sh.2,280. c. Paid creditors by cheque Sh.3,160. d. Debtors paid Sh.3,360 by cheque and Sh.240 by cash. e. Moody put in extra Sh.1,000 cash as capital.

Required -

a. Determine the capital as at 1st May 2002.

b. Draw up a statement of financial position after the above transactions have been completed.

Reference no: EM133021303

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