Question
Section 2: Example Balance Sheet Complete the balance sheet for the business for 2019 and 2020. 2019 2020 $ $ $ $ Fixed Assets Premises
Section 2: Example Balance Sheet
| Complete the balance sheet for the business for 2019 and 2020. | ||||||
| 2019 | 2020 | |||||
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| $ | $ | $ | $ | ||
| Fixed Assets |
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| Premises | 60,000 |
| 74,000 |
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| Equipment | 14,000 |
| 24,000 |
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| Current Assets |
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| Stocks | 2,000 |
| 3,000 |
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| Debtors | 5,000 |
| 3,000 |
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| Cash at Bank | 5,000 |
| 2,000 |
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| Current Liabilities |
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| Overdraft | 3,000 |
| 3,000 |
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| Creditors | 3,000 |
| 3,000 |
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| Working Capital |
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| Net Assets |
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| Financed by: |
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| Owners Capital |
| 40,000 |
| 65,000 | ||
| Loan |
| 40,000 |
| 35,000 | ||
| Capital Employed |
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Fundamental Managerial Accounting Concepts
Authors: Edmonds, Tsay, olds
6th Edition
71220720, 78110890, 9780071220729, 978-0078110894
