Page 343 - Microsoft Word - 00 BA3 IW Prelims STUDENT.docx

Answers to questions

Example 4

Required:

Complete the below vertical statement of financial position using the
information from Example 3.

Example 4: Solution

Statement of financial position of Nadim as at 7 January

Assets $000 $000
Land 200
Buildings 60
Office equipment 4
––––
264
Current assets
Inventories 10
Receivables 7
Bank balance 38
Cash in hand 5
––––
60
––––
324
––––
Capital + Liabilities
Capital 65

Non-current liabilities

Bank loan 240

Current liabilities
Payables 19
––––
324
––––

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