2.5 The following is a list of assets and claims of a manufacturing business at a particular point in time:

1 March Deposited £20,000 in a newly-opened business bank account.

2 March Bought fixtures and fittings for £6,000 cash and inventories £8,000 on credit.

3 March Borrowed £5,000 from a relative and deposited it in the bank.

4 March Bought a motor car for £7,000 cash and withdrew £200 in cash for his own use.

5 March Bought a further motor car costing £9,000. The motor car bought on 4 March was given in part exchange at a value of £6,500. The balance of the purchase price for the new car was paid in cash.

6 March Conday won £2,000 in a lottery and paid the amount into the business bank account. He also repaid £1,000 of the borrowings.

£

Short-term borrowings 22,000 Property 245,000 Inventories of raw materials 18,000 Trade payables 23,000 Plant and equipment 127,000 Loan from Manufacturing Finance Co. (long-term borrowing) 100,000 Inventories of finished goods 28,000 Delivery vans 54,000 Trade receivables 34,000 Required:

Write out a statement of financial position in the standard format incorporating these figures.

(Hint: There is a missing item that needs to be deduced and inserted.)