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Question Mr. Lukwesa has been running a retail business for some years. Below is the Statement of Financial Position, prepared by his book keeper prior

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Question Mr. Lukwesa has been running a retail business for some years. Below is the Statement of Financial Position, prepared by his book keeper prior to additional information being supplied by a professional accountant that Mr. Lukwesa hired. st ina Non Current Assets Freehold premises Motor vehicles 9 600 10 400 20 000 Current Assets Inventory Receivables Bank: Current a/c 13 000 9 400 800 3 200 Fixed deposit a/c Cash in hand 26 572 Current Liabilities Payables Accruals 11 000 728 11728 Working capital Financed by: Capital Net profit 31920 7 400 39 320 (4 600) Drawings Suspense a/c

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