Statement of financial position

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1. Where do you put 'Accumulated Depreciation'

  • Before Capital / Equity and liabilities
  • Separate column at the top
  • After gross profit
  • Don't include
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2. Electricity bill not yet paid

  • Add to Electricity
  • Add to accruals
  • Add to Current Liabilities
  • Don't include

3. Liquidation of outstanding trade recievables

  • Take away from figure
  • Add to Liabilites
  • Add to assets
  • Add to bad debt

4. Profit for the year

  • Non-current asset
  • Current Asset
  • Equity
  • Current liabilities

5. Accruals (720*1/3)

  • Non-current asset
  • Current asset
  • Current liability
  • Non-current liability

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