Question: 2 . 3 On 1 March, Joe Conday started a new business. During March he carried out the following transactions: 1 March Deposited 2 0
On March, Joe Conday started a new business. During March he carried out the following transactions:
March Deposited in a newly opened business bank account.
March Bought fixtures and fittings for cash and inventories on credit.
March Borrowed from a relative and deposited it in the bank.
March Bought a motor car for cash and withdrew in cash for his own use.
March A further motor car costing was bought. The motor car bought on March was given in part exchange at a value of The balance of purchase price for the new car was paid in cash.
March Conday won in a lottery and paid the amount into the business bank account. He also repaid of the borrowings.
Required:
Draw up a statement of financial position for the business at the end of each day.
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