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balance sheet help!
2 Answers
Im doing a course and have to complete the following balance sheet with info provided. However, the way it is set I have not come across and despite reading various books and visiting various websites im none the wiser, please help! Im ok up until the working capital, then im lost!
use info below to complete balance sheet, one figure is missing which you need to deduce from other figures given.
Crdeitors�8,600
Motor vehicles�3,800
Loan from Bank�26100
Machinery and tools�20700
Bank overdraft�11300
Stock�15300
Freehold premisis�32000
Debtors�18500
Balance sheet:
Longterm assets=
=
=
Total =
Short term assets =
=
Total =
Short term liabilities=
=
Total =
Working Capital=
Net Assets=
Less long term liabilities=
=
Net long term liabilities=
use info below to complete balance sheet, one figure is missing which you need to deduce from other figures given.
Crdeitors�8,600
Motor vehicles�3,800
Loan from Bank�26100
Machinery and tools�20700
Bank overdraft�11300
Stock�15300
Freehold premisis�32000
Debtors�18500
Balance sheet:
Longterm assets=
=
=
Total =
Short term assets =
=
Total =
Short term liabilities=
=
Total =
Working Capital=
Net Assets=
Less long term liabilities=
=
Net long term liabilities=
Answers
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Freehold premisis �32,000
Motor vehicles �3,800
Machinery and tools �20,700
Total Fixed Assets �56,500
Stock�15300
Debtors�18500
Total Current Assets 33,800
Creditors �8,600
Bank overdraft �11,300
Total Current Liabilities 19,900
Net Current Assets (Working Capital)13,900
Total Assets less current liabilities 70,400
Loan from Bank �26,100
Net Assets 44,300
You are missing Capital Account....whether limited Co Shares etc or partners capital...Net Assets is the figure for it.
Motor vehicles �3,800
Machinery and tools �20,700
Total Fixed Assets �56,500
Stock�15300
Debtors�18500
Total Current Assets 33,800
Creditors �8,600
Bank overdraft �11,300
Total Current Liabilities 19,900
Net Current Assets (Working Capital)13,900
Total Assets less current liabilities 70,400
Loan from Bank �26,100
Net Assets 44,300
You are missing Capital Account....whether limited Co Shares etc or partners capital...Net Assets is the figure for it.
1 to 2 of 2
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