On July 1^st 2010, FairView Farm at Agara Junction started the year with N12,400,000 in the bank and N300,000 in the cash till. The farm was owed N3,000,000 for milk sold to National Co-operative Creameries (NCC) and N500,000 for grains sold to Agricultural Products Company (APC). The Farm owed National Farmer's Association (NFA) N1,500,000 for fertilizers and Ongar Ltd. N500,000 for feedstuffs.

Opening Balance on 1^st July 2006N'000

Dairy cattle25,000

Grain in store9,000

Potatoes in store5,000

Beans in store3,500

Young stock of heifers and calves15,000

Goats5,000

Sheep7,000

Buildings25,000

Land (320 hect)160,000

Implements (tractors)80,000

Milking machine10,000

Cattle minerals and vitamins600

Expenses

N'000N'000

Cattle minerals900

A.I.600

Veterinary expenses1,400

Salaries15,000

Feedstuffs3,500

Pesticides and other chemicals2,000

Machinery repairs2,500

Fuel, grease3,000

Harvesting2,000

Transport and marketing1,400

Fertilizers4,500

Private drawings7,200

ReceiptsN'000N'000

Cattle sold6,000

Goats sold4,500

Sheep sold5,600

Wool sold3,500

Grain sold5,500

Potatoes sold9,800

Beans sold6,000

Milk sold12,000

Additional information:

Depreciation rates re:

4% for buildings

10% for milking machines

20% for implements

At the end of the year, on 30^th June 2011, the closing valuation was as follows:

Diary cattle25,000

Grain in store10,000

Beans in store4,000

Young stock14,000

Goats2,000

Sheep3,000

Wool3,000

Cattle minerals and vitamins1,000

Fertilizers2,000

Feedstuffs in store600

The farm was owed N1,000,000 for milk sold to NCC and N250,000 for grain sold to APC.

The farm owed NFA N1,000,000 for fertilizer purchased and N200,000 for feedstuffs from Ongar Ltd.

Cash in hand was N3,000,000 and the bank account had a balance of N17,800,000.

From the above information write out for FairView Farm:

1. The Opening Statement of Financial Position
2. The Closing Statement of Financial Position
3. Cash Analysis Book
4. Profit or Loss Account
5. Any other relevant account