D Moody has the following
assets and liabilities as on 31 April 2002:
Motor Vehicle 25,160
Cash at bank 29,120
Cash in hand 160
During the first week of May
Bought extra equipment on credit for £5,520.
b. Bought extra
stock by cheque £2,280.
Paid creditors by cheque £3,160.
d. Debtors paid
£3,360 by cheque and £240 by cash.
Moody put in extra £1,000 cash as capital.
Determine the capital as at 1st May 2002.
b. Draw up a balance
sheet after the above transactions have been completed.