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COMPANY ACCOUNTING SESSION 14
1.15 STATEMENT OF FINANCIAL POSITION
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 20X7
€ € €
Non-current assets
Buildings 23,000 (4,000) 19,000
Machinery 7,000 (1,400) 5,600
Motor vehicles 3,000 (600) 2,400
33,000 (6,000) 27,000
Current assets
Inventory 6,000
Trade accounts receivable 3,000
Bank 4,000 13,000
TOTAL ASSETS 40,000
Equity and liabilities
Equity 26,000
Non-current liabilties (d)
Debenture loans 8,000
Current liabilities (c)
Trade accounts payable 4,000
Tax owing 2,000 6,000
TOTAL LIABILITIES 14,000
TOTAL EQUITY AND LIABILITIES 40,000
©LAWRENCE CAUCHI AIPFM, LMLCC, FIAB, MAAT, MIAAP. Page 17 of 19
