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You are given the following information for a retailer, George Mikael, as of 30 June 20x0: During

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You are given the following information for a retailer, George Mikael, as of 30 June 20x0:

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During the past year, George Mikael has withdrawn $2,000 cash for his own use, whilst the net profit, according to the SPL, was $7,200.
From this information, prepare an SFP of the retailer George Mikael as of 30 June 20x0.

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Capital as of 1 July 20x9 $22,800 Cash at bank 4,000 Trade receivables 12,000 Accrued expenses 2,000 Trade payables 10,000 Inventory on hand 16,000 Buildings 16,000 Mortgage on buildings 8,000

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