The following is a list of assets and claims of a pharmaceutical distribution company at a particular
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Question:
- The following is a list of assets and claims of a pharmaceutical distribution company at a particular point in time:
- Short-term borrowings: £22,000
- Property: £265,000
- Inventories of raw materials: £19,000
- Trade payables: £25,000
- Plant and equipment: £140,000
- Loan from Pharma Finance Co. (long-term borrowing): £100,000
- Inventories of finished goods: £31,000
- Delivery vans: £54,000
- Trade receivables: £42,000
Required:
Draw up a statement of financial position incorporating these figures. (Hint: There is a missing item that needs to be deduced and inserted.)
Related Book For
Intermediate Accounting
ISBN: 978-0176509736
10th Canadian Edition, Volume 1
Authors: Donald Kieso, Jerry Weygandt, Terry Warfield, Nicola Young,
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