Faisal Ahmed commenced business on 7 November 2010 selling flat panel computer monitors. He brought in £15,000 in cash as his capital. He has a supplier from whom he purchases the monitors at £180 each. He sells the monitors at £250 each. His receipts and payments during the first week of trading were as stated below:

Required: 

Write up the Cash account for the week, carrying down the balance at the end of the first week.

Transcribed Image Text:

Date Transaction 7.11 Paid rent for the month 8.11 Acquired office equipment 9.11 Bought office stationery 9.11 Acquired a van 9.11 Paid road tax and insurance 10.11 Purchased 28 monitors 11.11 Paid for local press advertising 11.11 Sold 16 monitors 11.11 Paid staff wages £ 1,000 3,000 45 2,500 185 ? 200 ? 550