1
Return to question 7.1 and prepare a balance sheet as at 31 December 2008.
2
Return to question 7.2 and prepare a balance sheet as at 30 April 2005.
3
Return to question 7.3A and prepare a balance sheet as at 31 December 2008.
4
Return to question 7.4A and prepare a balance sheet as at 30 June 2008.
5
A Manny started in business on 1 January 2007, with £74,000 capital in cash. During the first year he kept very few records of his transactions. The assets and liabilities of the business at 31 December 2007 were:
£
Premises 130,000
Mortgage on the premises 90,000
Stock 37,000
Debtors 4,100
Cash and bank balances 8,600
Creditors 11,300
During the year, Hope withdrew £18,000 cash for his personal use but he also paid £9,000 received from the sale of his private car into the business bank account.
Required
:
From the above information, prepare a balance sheet showing the financial position of the business
at 31 December 2007 and indicating the net profit for the year.z.
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