Ciera’s business has the following balances at 31 December:

£

Stock 18 600 Creditors 23 700 Cash in bank account 13 000 Long-term loan 20 000 Fixed assets — premises 39 000 Amounts owed by customers 6 500 Amounts owed to Inland Revenue 3 800 Ciera’s capital 29 600 Prepare Ciera’s balance sheet at 31 December. Use the format shown in the chapter

— i.e. start at the top with fixed assets, then work down the page presenting current assets, then current liabilities (remember to show a total for net current assets), then long-term liabilities. Capital is shown at the bottom.

Remember to line up columns of figures neatly, and to use a proper heading for the balance sheet.