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The Regulatory Framework of Financial Reporting

Example 3

Required:

Compile Nadim's statement of financial position after the transactions
from Example 2 have been accounted for.

Example 3: Solution

Statement of financial position of Nadim as at 7 January

Assets $000 $000 Capital + Liabilities $000
Non-current assets Capital
Land
Buildings
Office equipment
––––
Non-current liabilities
Bank loan
Current assets
Inventories Current liabilities
Receivables Payables
Bank balance
Cash in hand
––––

–––– ––––

–––– ––––

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