On 1 March, Joe Conday started a new business. During March he carried out the following… 1 answer below »

On 1 March, Joe Conday started a new business. During March he carried out the following transactions: 1 March Deposited £20,000 in a bank account 2 March Purchased fixtures and fittings for £6,000 cash, and inventories £8,000 on credit 3 March Borrowed £5,000 from a relative and deposited it in the bank 4 March Purchased a motor car for £7,000 cash and withdrew £200 in cash for his own use 5 March A further motor car costing £9,000 was purchased. The motor car purchased on 4 March was given in part exchange at a value of £6,500. The balance of purchase price for the new car was paid in cash 6 March Conday won £2,000 in a lottery and paid the amount into the business bank account. He also repaid £1,000 of the loan Required: Draw up a balance sheet for the business at the end of each day.

Looking for a similar assignment? Get 15% discount on your first order with us
Our experts will take care of your task no matter the deadline!
Use the following coupon
"SAVE15"

Order Now