The following information relates to A. Trader's business: Fixtures Accounts receivable Inventory Accounts payable Cash Balance at bank Loan from B. Burton Motor vehicle £ 18,000 4,800 24,000 8,000 760 15,600 6,000 £ 16,200 5,800 28,000 11,000 240 4,600 2,000 16,000 During the year, Trader had sold some of his personal investments for £4,000 which he paid into the business bank account, and he had drawn out £200 weekly for private use. Required: Prepare a balance sheet as at 31 December and give the net profit as at that date.

The following information relates to A. Trader's business: Fixtures Accounts receivable Inventory Accounts payable Cash Balance at bank Loan from B. Burton Motor vehicle £ 18,000 4,800 24,000 8,000 760 15,600 6,000 £ 16,200 5,800 28,000 11,000 240 4,600 2,000 16,000 During the year, Trader had sold some of his personal investments for £4,000 which he paid into the business bank account, and he had drawn out £200 weekly for private use. Required: Prepare a balance sheet as at 31 December and give the net profit as at that date.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 1AP

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