Kamau has the following assets and liabilities as on 31 April 2018: sh Creditors Equipment Motor...
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Kamau has the following assets and liabilities as on 31 April 2018: sh Creditors Equipment Motor Vehicle Stock Debtors Cash at bank Cash in hand 15,800 46,000 25,160 24,600 23,080 29,120 160 During the first week of May 2018 Kamau: a. Bought extra equipment on credit for sh.5, 520. Bought extra stock by cheque sh.2, 280. b. C. Paid creditors by cheque sh.3, 160. d. Debtors paid sh.3, 360 by cheque and sh.240 by cash. Kamau put in extra sh.1, 000 cash as capital. e. Required: a. Determine the capital as at 1st May 2018. b. Draw up a balance sheet after the above transactions have been completed. Kamau has the following assets and liabilities as on 31 April 2018: sh Creditors Equipment Motor Vehicle Stock Debtors Cash at bank Cash in hand 15,800 46,000 25,160 24,600 23,080 29,120 160 During the first week of May 2018 Kamau: a. Bought extra equipment on credit for sh.5, 520. Bought extra stock by cheque sh.2, 280. b. C. Paid creditors by cheque sh.3, 160. d. Debtors paid sh.3, 360 by cheque and sh.240 by cash. Kamau put in extra sh.1, 000 cash as capital. e. Required: a. Determine the capital as at 1st May 2018. b. Draw up a balance sheet after the above transactions have been completed.
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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