- EXERCISE 2.2 5,000 Betty Boris is a self-employed machinist. She comes to you for assistance in preparing her business Statement of Financial Position (Balance Sheet). You ask her several questions and as well as her telling you that she is finding it difficult to pay her hire purchase instalments on time, you also find out the following information: + Assets $e Liabilities Sewing Machine 1,200 Hire Purchase on Vehicle House- 78,000 Mortgage on House 50,000 Private vehicle 8,500 Husband's Visa Carde Household furniture 6,500 Hire Purchase on waterbede Tools 500 Household Power bille Stereo 1,500 Unpaid advertising Refrigeratore 1,000 Washing Machine 500 e Business Bank Account 102 Accounts Receivable- 1,800 e 479 700- 200 500 - (a) Prepare the business Statement of Financial Position (Balance Sheet) for Betty Boris' Machinist Services as at 31 March 2021. (Hint: Remember the Entity Concept). Betty Boris Machinist Services Statement of Financial Position (Balance Sheet) as at 31 March 2021 $ Assets I 11 Less Liabilities NET ASSETS Equity - EXERCISE 2.2 5,000 Betty Boris is a self-employed machinist. She comes to you for assistance in preparing her business Statement of Financial Position (Balance Sheet). You ask her several questions and as well as her telling you that she is finding it difficult to pay her hire purchase instalments on time, you also find out the following information: + Assets $e Liabilities Sewing Machine 1,200 Hire Purchase on Vehicle House- 78,000 Mortgage on House 50,000 Private vehicle 8,500 Husband's Visa Carde Household furniture 6,500 Hire Purchase on waterbede Tools 500 Household Power bille Stereo 1,500 Unpaid advertising Refrigeratore 1,000 Washing Machine 500 e Business Bank Account 102 Accounts Receivable- 1,800 e 479 700- 200 500 - (a) Prepare the business Statement of Financial Position (Balance Sheet) for Betty Boris' Machinist Services as at 31 March 2021. (Hint: Remember the Entity Concept). Betty Boris Machinist Services Statement of Financial Position (Balance Sheet) as at 31 March 2021 $ Assets I 11 Less Liabilities NET ASSETS Equity