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The following is a list of assets and claims of a beverage manufacturing business at a particular point in time: Short-term borrowings: $23,000 Property: $265,000

  1. The following is a list of assets and claims of a beverage manufacturing business at a particular point in time:
    • Short-term borrowings: $23,000
    • Property: $265,000
    • Inventories of raw materials: $21,000
    • Trade payables: $25,000
    • Plant and equipment: $140,000
    • Loan from Beverage Finance Co. (long-term borrowing): $105,000
    • Inventories of finished goods: $30,000
    • Delivery vans: $52,000
    • Trade receivables: $42,000

Required:

Prepare a detailed balance sheet incorporating these figures. (Hint: There is a missing item that needs to be deduced and inserted.)

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