The following are lists of account balances extracted from the books of a trader at nine different
Question:
The following are lists of account balances extracted from the books of a trader at nine different points on the same day. You are to assume that the shift from one point to the next was caused by a single transaction.
Required:
Identify each transaction and the amount involved.
Transcribed Image Text:
Non-current asset Less: Depreciation Inventory Trade receivables Cash and bank Point 1 £ Point 2 £ Point 3 £ 40,000 40,000 40,000 (8,000) (8,000) (8,000) Point 4 £ Point 5 £ Point 6 £ Point 7 £ Point 8 £ 40,000 40,000 40,000 40,000 40,000 (8,000) (8,000) (8,000) (8,000) (8,500) Point 9 £ 40,000 (8,500) 32,000 32,000 32,000 32,000 32,000 32,000 32,000 31,500 31,500 18,000 21,000 16,000 16,000 16,000 16,000 16,000 16,000 16,000 15,000 15,000 23,000 18,200 18,200 18,200 18,200 18,200 18,200 4,500 4,500 4,500 9,300 7,300 7,100 7,100 7,100 7,000 69,500 72,500 75,500 75,500 73,500 73,300 73,300 72,800 72,700
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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