7. C. Sangwapo has the following items in his statement of financial position as on April 30, 2017: Capital K18,900; loa

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7 C Sangwapo Has The Following Items In His Statement Of Financial Position As On April 30 2017 Capital K18 900 Loa 1 (79.18 KiB) Viewed 49 times

7. C. Sangwapo has the following items in his statement of financial position as on April 30, 2017: Capital K18,900; loan from T. Shampule K2,000; creditors K1,600; Fixtures K3,500; motor vehicle K4,200; stock of goods K4,950; debtors K3,280; cash at bank K6,450; cash in hand K120 During the last week of May 2017 Sangwapo: i) ii) Bought extra stock of goods K770 on credit One of the debtors paid him K280 in cash. Bought extra fixtures by cheque K1, 000. Required: Draw up the statement of financial position as on May 7, 2017 after the above transactions have been completed.