Statement of financial position 0.0 / 5 ? Business ManagementStatement of financial position layoutUniversityAll boards Created by: josief95Created on: 13-12-15 11:20 Equipment Non-current asset 1 of 33 Inventory Current asset 2 of 33 Trade recievables Current asset 3 of 33 Prepayments (1800-400+600) Current asset 4 of 33 Cash Current asset 5 of 33 Motor vehicles Non-current asset 6 of 33 Trade payables Current liability 7 of 33 Accruals (720*1/3) Current liability 8 of 33 Bank over draft Current liability 9 of 33 Bank loan Non-current Liabilitiy 10 of 33 Capital Equity 11 of 33 Retained profits Equity 12 of 33 Profit for the year Equity 13 of 33 Less: Drawings Equity 14 of 33 Where do you put 'Accumulated Depreciation' Separate column at the top 15 of 33 NBV goes where Last column at the top 16 of 33 What is the first column along the top Cost 17 of 33 Total assets should equal Total [Capital] Equity and Liabilities 18 of 33 Where would 'Vans at cost' go Non-c assets > Motor vehicles > First 'Cost' column 19 of 33 Where would 'Van expenses' go Not included 20 of 33 Where does opening inventory go Not included 21 of 33 Where does closing inventory go Under Current assets 22 of 33 Prepayment of van insurance Current Assets > Prepayments 23 of 33 Acc Depn Accumulated depreciation - 2nd Column 24 of 33 Depn chg for yr Depreciation change (%) for year - 3rd Column 25 of 33 NBV Net book value - 1st Column 26 of 33 Order of titles Non-Current assets > Current assets > Total assets, > [Capital] Equity and Liabilities > Equity [Capital] > Non-current liabilities > Current Liabilites > total Equity & Liabilites 27 of 33 Liquidation of outstanding trade recievables Take away from figure 28 of 33 Electricity bill not yet paid Add to accruals 29 of 33 Bill unpaid totals £750 for three months, Include as: 750*1/3 (Find for only the month as at) 30 of 33 If a box of out-dated un-resellable heaters which are included in inventory (£670) cannot be sold ... Obsolete stock - Increases cost of sales; Decreases Gross & Net Profit; Reduces assets in SoFP 31 of 33 Accumulated depreciation graph titling (Vertical) Machine cost; [less] Acc. Depreciation; Carrying value 32 of 33 Accumulated depreciation graph titling (Vertical) End of year 1; 2; 3; 4.... 33 of 33
Comments
No comments have yet been made