The following is a list of the assets and claims of Epsilon Technologies as at 31 March
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Question:
- The following is a list of the assets and claims of Epsilon Technologies as at 31 March last year:
- Trade payables: £94,000
- Motor vehicles: £42,000
- Long-term borrowing (loan from TechFinance Co.): £300,000
- Equipment and tools: £245,000
- Short-term borrowings: £140,000
- Inventories: £175,000
- Property: £375,000
- Trade receivables: £210,000
Required:
(a) Prepare the statement of financial position of the business as at 31 March last year from the information provided, using the standard layout. (Hint: There is a missing item that needs to be deduced and inserted.)
(b) Analyze the debt management strategy revealed by this financial statement.
Related Book For
Introduction To Financial Accounting
ISBN: 978-0077138448
7th edition
Authors: Anne Marie Ward, Andrew Thomas
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