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Elliot's Auto Supplies runs and owns a vehicle repair garage.She Supplies the following information for the year ended 31 May 2017: Premises 180000 Break Down
Elliot's Auto Supplies runs and owns a vehicle repair garage.She Supplies the following information for the year ended 31 May 2017:
Premises | 180000 |
Break Down Recovery Truck | 24000 |
Office Furniture | 8000 |
Trade Receivables | 3450 |
Trade Payables | 1673 |
Inventory at 1 June 2014 | 945 |
Purchases | 48620 |
Sales | 92431 |
Wages and General Expenses | 23789 |
Local Taxes | 872 |
Insurance | 2150 |
Advertising | 450 |
Stationery | 357 |
Mortgage on Premises | 160000 |
Drawings | 15750 |
Bank Balance Capital at 1 June 2014 | 849 |
Capital at 1 June 2014 | 55128 |
Elliot has valued his inventory at 31 May 2015 at $1045
Required: Prepare a Statement of Financial Position at 31 May 2015
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