Page 53 - Microsoft Word - 00 BA3 IW Prelims STUDENT.docx

The Regulatory Framework of Financial Reporting

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
Buildings
Office equipment
––––

Current assets
Inventories
Receivables
Bank balance
Cash in hand
––––

––––

––––
Capital + Liabilities
Capital

Non-current liabilities

Bank loan

Current liabilities
Payables
––––

––––

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