| |
Solution
2.5 Part a) Balance sheet as at 31 December
|
Assets: |
|
|
|
|
Premises |
298,000 |
|
|
|
Equipment |
20,000 |
|
|
|
Fixtures & fittings |
26,000 |
|
|
|
Debtors |
15,000 |
|
|
|
Cash |
1,000 |
|
|
|
Stock |
9,800 |
|
369,900 |
|
Liabilities: |
|
|
|
|
Creditors |
22,000 |
|
|
|
Bank overdraft |
5,000 |
|
|
|
Loan |
78,000 |
|
(105,000) |
|
|
|
|
264,800 |
|
|
|
|
|
|
Capital |
|
|
264,800 |
|
Part b) Balance
sheet as at 7 January
|
Assets: |
|
|
|
|
|
Premises |
|
298,000 |
|
|
|
Equipment |
|
20,000 |
|
|
|
Fixtures & fittings |
26,000 + 500 |
26,500 |
|
|
|
Debtors |
15,000 – 9,000 |
6,000 |
|
|
|
Cash |
1,000 + 9,000 – 5,000 |
5,000 |
|
|
|
Stock |
9,800 + 1,200 |
11,000 |
|
366,500 |
|
Liabilities: |
|
|
|
|
|
Creditors |
22,000 +500 +1,200 – 2,000 |
21,700 |
|
|
|
Bank overdraft |
5,000 + 2,000 |
7,000 |
|
|
|
Loan |
78,000 – 5,000 |
73,000 |
|
(105,000) |
|
|
|
|
|
264,800 |
|
|
|
|
|
|
|
Capital |
|
|
|
264,800 |
| |
|
|
|
|
|