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The statement of financial position of Tanana Co was prepared by a trainee accountant. Subsequent checking by the chief financial officer revealed the following errors:

The statement of financial position of Tanana Co was prepared by a trainee accountant. Subsequent checking by the chief financial officer revealed the following errors:

1.

A bank overdraft of

18,000

had been treated as a bank balance.

2.

A property had suffered an impairment loss of

38,000,

which had not been recognised.

3.

A long-term loan for

30,000

from the

Southern

Bank had been treated as capital introduced.

The chief financial officer also discovered that the equity figure of

292,000

was simply the balancing figure on the statement of financial position.

What is the correct equity figure for inclusion in the statement of financial position?

The correct equity figure for inclusion in the statement of financial position is

enter your response here.

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