Question

You are required to prepare the statement of financial position of Trader Plc from the figures given in their list of balances as at 31^st December, 2017

                                                                                                            N’000

Land and Buildings                                                                             73,880

Capital                                                                                                 96,000

Mortgage on Premises                                                                                     44,360

Drawings                                                                                             12,000

Profit (from Profit & Loss account)                                                   14,400

Furniture and Fittings                                                                         20,480

Motor Vehicles                                                                                   13,848

Closing Inventory                                                                               12,000

Bills Receivable                                                                                  45,896

Bills Payable                                                                                       29,416

Cash Book Balance                                                                             6,072

Answer 1