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D Abdi has the following assets and liabilities as on 31 April 2002
$
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 Abdi:
a. Bought extra equipment on credit for $5,520
b. bought extra stock by cheque $2,280
c. Paid creditors by cheque $3,160
d. Debtors paid $3,360 by cheque and $240 by cash
e. Abdi put in extra $1,000 cash as capital
Question 1: Determine the capital as at 1st May 2002
Question 2: Draw up a statement of Financial Position after the above transactions have been completed
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