ZF Electronics sells laptops, tablets, phones, and much more. It has been established

on 1 January 2020. ZF Electronics adopts the calendar year as its fiscal year. Below

is the statement of financial position as of 30 November 2020.

ZF Electronics

Statement of Financial Position

As at 30 November 2020

BHD BHD

Assets

Non-current assets:

Building, net 492,300

Furniture, net 16,333

Equipment, net 3,167

Total non-current assets 511,800

Current assets:

Inventory 53,070

Prepaid Insurance 112,500

Supplies 8,000

Trade receivables 30,916

Cash 225,000

Short-term investment 38,714

Total current assets 468,200

Total Assets 980,000

Equity:

Capital 544,860

Non-current liabilities:

Long-term loan 320,000

Current liabilities:

Salary payable 50,000

Trade payables 65,000

VAT Due 140

Total current liabilities 115,140

Total liabilities 435,140

Total Equity & Liabilities 980,000

1. Prepare cash book and bank reconciliation statements for a given business.
2. Prepare financial statements for a sole and trial balance.
3. Questions: 1 April 2020 paid for BNI Insurance BHD 150,000. 1 Dec 2020 bought from the home store BHD 1,323. Awali stationery sold to ZF electronic lights BHD 52.5 cash. On 1 Dec 2020, ZF electronics sold to Mr. Isa Hamad cash 1,680. On 6 Dec 2020, ZF electronics were sold to Zainab Ali Samsung galaxy BHD 838.000.
   

BHD BHD Assets Non-current assets: Building, net 492,300 Furniture, net 16,333 Equipment, net 3,167 Total non-current assets 511,800 Current assets: Inventory 53,070 Prepaid Insurance 112,500 Supplies 8,000 Trade receivables 30,916 Cash 225,000 Short-term investment 38,714 Total current assets 468,200 Total Assets 980,000 Equity: Capital 544,860 Non-current liabilities: Long-term loan 320,000 Current liabilities: Salary payable 50,000 Trade payables 65,000 VAT Due 140 Total current liabilities 115,140 Total liabilities 435,140 Total Equity & Liabilities 980,000