J. Hill has the following assets and liabilities on 30 November 2016: Accounts payable 2,800; Equipment 6,200;

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J. Hill has the following assets and liabilities on 30 November 2016: Accounts payable £2,800;

Equipment £6,200; Car £7,300; Inventory £8,100; Accounts receivable £4,050; Cash at bank £9,100; Cash in hand £195.

You are not given the capital amount at that date.

During the first week of December 2016

(a) Flill bought extra equipment on time for £110.

(b) Flill bought extra inventory by cheque £380.

(c) Flill paid creditors by cheque £1,150.

{d) Debtors paid Flill £640 by cheque and £90 by cash.

(e) Hill put an extra £1,500 into the business, £1,300 by cheque and £200 in cash.

You are to draw up a statement of financial position as at 7 December 2016 after the above transactions have been completed.

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