Q2. Question 2. The following table gives the cumulative effects of individual transactions on the assets, capital and liabilities of Zoe Innovations. These have been presented in a summary statement of financial position (or balance sheet) of Zoe Innovations. Assets ¢000 A ¢000 B ¢000 C ¢000 D ¢000 E ¢000 F ¢000 G ¢000 H ¢000 I ¢000 Land & Buildings 450 450 450 450 575 575 275 275 275 275 Motor Vehicles 95 100 100 100 100 100 100 100 100 100 Office Equipment 48 48 48 48 48 48 48 48 48 48 Stock 110 110 110 110 110 110 110 110 110 93 Debtors 188 188 188 188 188 108 108 108 108 120 Bank 27 22 22 172 47 127 427 77 77 77 Cash 15 15 11 11 11 11 11 11 3 3 933 933 929 1,079 1,079 1,079 1,079 729 721 716 Liabilities & Capital Capital 621 621 621 621 621 621 621 621 621 616 Loan from Adwoa 200 200 200 350 350 350 350 - - - Creditors 112 112 108 108 108 108 108 108 100 100 933 933 929 1,079 1,079 1,079 1,079 729 721 716 You are required to: State as fully as possible, from A to I, what transaction(s) has taken place in each case. The answer should indicate which account is debited and which one is credited and for what reason.

Q2. Question 2. The following table gives the cumulative effects of individual transactions on the assets, capital and liabilities of Zoe Innovations. These have been presented in a summary statement of financial position (or balance sheet) of Zoe Innovations. Assets ¢000 A ¢000 B ¢000 C ¢000 D ¢000 E ¢000 F ¢000 G ¢000 H ¢000 I ¢000 Land & Buildings 450 450 450 450 575 575 275 275 275 275 Motor Vehicles 95 100 100 100 100 100 100 100 100 100 Office Equipment 48 48 48 48 48 48 48 48 48 48 Stock 110 110 110 110 110 110 110 110 110 93 Debtors 188 188 188 188 188 108 108 108 108 120 Bank 27 22 22 172 47 127 427 77 77 77 Cash 15 15 11 11 11 11 11 11 3 3 933 933 929 1,079 1,079 1,079 1,079 729 721 716 Liabilities & Capital Capital 621 621 621 621 621 621 621 621 621 616 Loan from Adwoa 200 200 200 350 350 350 350 - - - Creditors 112 112 108 108 108 108 108 108 100 100 933 933 929 1,079 1,079 1,079 1,079 729 721 716 You are required to: State as fully as possible, from A to I, what transaction(s) has taken place in each case. The answer should indicate which account is debited and which one is credited and for what reason.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Q2. Question 2.

The following table gives the cumulative effects of individual transactions on the assets, capital and liabilities of Zoe Innovations. These have been presented in a summary statement of financial position (or balance sheet) of Zoe Innovations.

Assets	¢000	A ¢000	B ¢000	C ¢000	D ¢000	E ¢000	F ¢000	G ¢000	H ¢000	I ¢000
Land & Buildings	450	450	450	450	575	575	275	275	275	275
Motor Vehicles	95	100	100	100	100	100	100	100	100	100
Office Equipment	48	48	48	48	48	48	48	48	48	48
Stock	110	110	110	110	110	110	110	110	110	93
Debtors	188	188	188	188	188	108	108	108	108	120
Bank	27	22	22	172	47	127	427	77	77	77
Cash	15	15	11	11	11	11	11	11	3	3
	933	933	929	1,079	1,079	1,079	1,079	729	721	716
Liabilities & Capital
Capital	621	621	621	621	621	621	621	621	621	616
Loan from Adwoa	200	200	200	350	350	350	350	-	-	-
Creditors	112	112	108	108	108	108	108	108	100	100
	933	933	929	1,079	1,079	1,079	1,079	729	721	716

You are required to:

State as fully as possible, from A to I, what transaction(s) has taken place in each case. The answer should indicate which account is debited and which one is credited and for what reason.

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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