Accounting 16.3. Exercises Source: E. nieek, E. Waliska, M. Frendzel, J. Stpier-Andrzejewska, Financial Accounting,CCAE, Ldz, 2007 Chapter 6. Exercise 1 You have just got the wrong version of the balance sheet of your company. The chief accountant asked you to find mistakes and to prepare a proper version of this financial statement. Balance sheet of "FORGIVE-ME" Ltd. as at 31.01.2006 ASSETS EQUITY AND LIABILITY Negative goodwill 4 100 2 000 Share capital not paid up Machinery, plant and equipment 13 Accumulated depreciation of 4100 000 machinery, plant and equipment gross value 200 5 000 Taxes and fees Short term bank loans 12 Not completed developments cost 3000 Software 4 000 Share capital Payments received on accounts 2 000 Receivables in court 5 100 One year debt securities 7 200 Share of other entity bought for 5 000 Decrease in inventory resale 2 100 1500 Building bought for resale Trade liabilities due in 2009 2 400 Materials, bought in 2001 and fully written off 2 000 Deferred cost 10 20 Long term loans granted Deferred tax provision 3 400 Goods for resale and semi- finished products Work in progress 56 TOTAL EQUITY AND LIABILITIES TOTAL ASSETS 900 Exercise 2