Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year.
Ksh.000
Account payable 15,800
equipment 46,000
motor vehicles 25,160
Account receivable 23,080
cash at bank 29,120
cash in hand 160,000
during that financial year the following transaction took place.
bought extra equipment on credit for Ksh 5,520,000
bought extra inventory by cheque Ksh 2,280,000
paid creditors by cheque Ksh 3,160,000
received payment from debtors Ksh 3,360,000 by cheque and Ksh 240 by cash
prepare a statement of financial position