- Data Table Assets Inventories Motor Vehicles Premises Trade Receivables Bank 29 000 24 000 220 000 26 000 6 000 305 00 1 (10.46 KiB) Viewed 9 times
Data table Claims Equity Bank loan Trade payables £ 269,000 25,000 11,000 305,000 Print Done I
During the month the following transactions take place: (a) Received cash from trade receivables totalling £15,000 (b) £3,500 of the bank loan was repaid. (c) Inventories sold for £14,000 cash; these inventories had cost £8,750 (d) Sold inventories for £20,000 on credit; these inventories had cost £12,000 (e) The owners of the business withdrew £3,000 for their personal use. (f) The owners brought a computer, valued at £1,500, into the business. (g) Fixtures and fittings were purchased costing £13,000. Half of the amount due was paid during the month and the remainder is due to be paid next month. (h) Paid trade payables £10,000. (i) Bought inventories on credit for £17,000. The statement of financial position of Dornier & Co at the end of the month is as follows: Assets £ Premises Motor vehicles Fixtures and fittings Computer Inventories Trade receivables Bank Claims Equity (or capital) Bank loan Trade payables Other payables