Analyze business transactions on statement of financial position

Jerry and Company

Statement of financial position on 1 October
Assets $
Cash 100,000
Furniture 120,500
Computer Equipment 10,200
Account Receivable 1,000
Inventories 2,300
Total asset: 234,000
Equity and Liability
Equity 192,900
Liability (borrowing) 7,200
Liability (acc payable) 33,900
Total equity and liabilities 234,000

1. 5 October, the business managed to sell all of the inventories for £4,000
and received a bank transfer immediately from the customer for this
amount.
2. 7 October, Purchasing £10,000 of furniture on credit.
3. 10 October, Owner withdrawing £800 in cash.
4. 11 October, paying a supplier for £4,000 for furniture bought on credit a
few days earlier.
5. 11 October, Deposited £50,000 in a newly opened business bank account.
6. 12 October, Bought computer equipment for £6,000 cash and inventories
£80,000 on credit.
7. 13 October, Borrowed £2,000 from a relative and deposited it in the bank.
8. 15 October, Sold a computer for £4,000 on credit and withdrew £400 in
cash for his own use.
9. 17 October, Paid £2,000 the amount owed to the creditor.
10. 20 October, Sold inventories on credit for 77,000.