David prepared the following trial balance from his accounting records for his carpentry business on 31 March 20X1. You are required to prepare a statement of financial position as at that date.

Transcribed Image Text:

Freehold premises 60,000 Inventory 5,000 Accounts receivable 3,000 Accounts payable 2,500 Bank balance 1,000 Motor vehicles Capital 7,000 73,500 76,000 76,000