T. Ross has the following items in his balance sheet on 30 April 2024: Capital 26,060; Trade
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T. Ross has the following items in his balance sheet on 30 April 2024: Capital £26,060; Trade payables £5,510; Fixtures £12,390; Motor vehicle £7,500; Inventory £4,210; Trade receivables £6,350;
Cash at bank £920; Cash in hand £200.
During the first week of May 2024:
(a) He bought extra inventory for £490 on time.
(b) One of the debtors paid him £350 by cheque.
(c) He bought a computer by cheque £720.
You are asked to draw up a balance sheet as at 7 May 2024 after the above transactions have been completed.
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Related Book For
Frank Woods Business Accounting An Introduction To Financial Accounting
ISBN: 9781292365435
15th Edition
Authors: Alan Sangster, Lewis Gordon, Frank Wood
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