The statement of financial position of Bharwani Traders on 31 October 204 is shown below. On 1
Question:
The statement of financial position of Bharwani Traders on 31 October 20–4 is shown below.
On 1 November 20–4 the following transactions took place:
A cheque for $3 000 was paid to a credit supplier.
A credit customer paid $500 in cash.
A loan for $8 000, which was paid into the bank, was received from Lenders Limited.
A cheque for $7 000 was paid for an additional machine.
Prepare the statement of financial position of Bharwani Traders on 1 November 20–4 after the above transactions have taken place.
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Workings i The cheque will reduce trade payables and reduce cash Journal entry Date Particulars DR C...View the full answer
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