Prepare the balance sheet for the period

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Company Balance as at 31.12.2012 included the following items ($): Cash 2000 Authorized capital 2000, Accounts receivable 5,400 Accounts payable -5400 For the period following transactions were committed: There were purchased goods for $1,500 that were sold for $2,600. Calculate the financial result for the period (profit or loss) and the amount of cash that was received from customers and payments to creditors. All purchases during the reporting period were made on terms of immediate payment, and all sales - on credit terms. The amount of accounts receivables at the end of the period was $6,600. Prepare the balance sheet for the period.

Reference no: EM131798098

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