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I have an accounting problem to be solved

D Moody has the following assets and liabilities as on 31 April 2002:

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Creditors ; 15,800

Equipment ; 46,000

Motor Vehicle ; 25,160

Stock ; 24,600

Debtors ; 23,080

Cash at bank ; 29,120

Cash in hand ; ; 160

During the first week of May 2002 Moody:

a. ; Bought extra equipment on credit for £5,520.

b. ; Bought extra stock by cheque £2,280.

c. ; Paid creditors by cheque £3,160.

d. ; Debtors paid £3,360 by cheque and £240 by cash.

e. ; Moody put in extra £1,000 cash as capital.

Required:

a. ; Determine the capital as at 1st May 2002.

b. ; Draw up a balance sheet after the above transactions have been completed.

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