Akil has provided the following extracts from his accounting records:

You are required to:

(a) Show the capital account extract as it would appear on the statement of financial position.

(b) Explain how you will know the closing balance figure on the capital account is correct.

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Total assets Total liabilities 30,000 3,700 Capital introduced 22,000 Loss for the year 2,600 Drawings 11,300 Opening capital account balance 18,200