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Draw up a balance sheet as on December

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Question - J. Hill has the following assets and liabilities as on 30 November 20X9: Creditors £2,800; Equipment £6,200; Car £7,300; Stock of goods £8,100; Debtors £4,050; Cash at bank £9,100; Cash in hand £195.

You are not given the capital amount at that date.

During the first week of December 20X9

(a) Hill bought extra equipment on credit for £110.

(b) Hill bought extra stock by cheque £380.

(c) Hill paid creditors by cheque £1,150.

(d) Debtors paid Hill £640 by cheque and £90 by cash.

(e) Hill put in an extra £1,500 into the business, £1,300 by cheque and £200 in cash.

You are to draw up a balance sheet as on 7 December 20X9 after the above transactions have been completed.

Reference no: EM132946995

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