((Please write your own words in a WORD file not in handwriting))

Q3. What formats are used to prepare Statement of Financial Position? Prepare a Statement of Financial Position of MNT Company for the year ended 31^st December, 2015 in a proper format from the following list of accounts: (2 Marks)

List of Accounts	Amount ($)
Long Term Investments	51,000
Land	68,500
Buildings	165,000
Equipment	170,000
Goodwill	15,000
Patents	5,500
Inventories	270,000
Account Receivable	90,500
Prepaid Expenses	28,000
Short term investments	27,000
Cash and cash equivalents	26,500
Share Capital-Ordinary	210,000
Share Capital-Preference	220,000
Retained Earnings	93,500
Bonds (Liabilities due January 31, 2025)	233,750
Notes payable	44,000
Account payable	108,350
Salary payable	4,200
Deposits received from customers	3,200

.Answer: