Leaving Cert Accounting Tabular Statements: The following balance sheet show

Question

The following balance sheet shows the financial position of a sole trader, Gerard Cunningham, as at 01/03/2022:

Balance Sheet as at 01/03/2022:

Fixed Assets		€	€
Buildings	650,000
Equipment	78,000

Current Assets		€	€
Stock	52,000
Debtors	31,400
Bank	44,500

Less Creditors: amounts falling due within 1 year		€	€
Trade Creditors	31,000
Expenses due	2,400
Total Net Assets	822,500

Financed by:

Capital	750,000
Profit and loss	72,500
Capital Employed	822,500

The following transactions took place during March 2022:

Mar 4	Paid by cheque expenses that were due at the beginning of the month.
Mar 6	Purchased goods on credit for €16,200.
Mar 7	Paid by cheque from business bank account €1,400 for house repairs to family member.
Mar 16	Received from a debtor a cheque for €3,400 in full settlement of a debt of €3,900.
Mar 21	Purchased new equipment for €64,000. A deposit of €8,000 was paid by cheque and the remainder borrowed from Low Cost Loans Ltd.
Mar 24	Paid by cheque, a creditor’s account balance of €600 and received a discount of €140.
Mar 25	A debtor who owed €4,000 was declared bankrupt and paid 20c in the €.
Mar 27	Sold goods on credit for €8,300, which originally cost €8,000.

Required:
Record on a tabular statement the effect each of the above transactions had on the relevant assets and liabilities.

Show the total assets and liabilities on 31/03/2022.

Mar 4 Paid by cheque expenses that were due at the beginning of the month.

Mar 6 Purchased goods on credit for €16,200.

Mar 7 Paid by cheque from business bank account €1,400 for house repairs to family member.

Mar 16 Received from a debtor a cheque for €3,400 in full settlement of a debt of €3,900.

Mar 21 Purchased new equipment for €64,000. A deposit of €8,000 was paid by cheque and the remainder borrowed from Low Cost Loans Ltd.

Mar 24 Paid by cheque, a creditor’s account balance of €600 and received a discount of €140.

Mar 25 A debtor who owed €4,000 was declared bankrupt and paid 20c in the €.

Mar 27 Sold goods on credit for €8,300, which originally cost €8,000.

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