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Solutions Manual Accounting and Finance An Introduction Tenth edition Eddie McLaney Peter Atrill Download link at the end of this file 1 / 4
8 © Pearson Education Limited 2020
SECTION B
Solutions to Exercises 2 / 4
9 © Pearson Education Limited 2020
CHAPTER 2
Solution to Exercise 2.4 Joe Conday Statement of financial position as at 1 March £
ASSETS
Bank 20,000
EQUITY AND LIABILITIES
Equity 20,000
Statement of financial position as at 2 March £
ASSETS
Bank (20,000 – 6,000) 14,000 Fixtures and fittings 6,000 Inventories 8,000 Total assets 28,000
EQUITY AND LIABILITIES
Equity 20,000 Trade payables 8,000 Total equity and liabilities 28,000 Statement of financial position as at 3 March £
ASSETS
Bank (14,000 + 5,000) 19,000 Fixtures and fittings 6,000 Inventories 8,000 Total assets 33,000
EQUITY AND LIABILITIES
Equity 20,000 Trade payables 8,000 Borrowings 5,000 Total equity and liabilities 33,000
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McLaney and Atrill, Accounting and Finance: An Introduction, 10e, Instructor’s Manual 10 © Pearson Education Limited 2020
Statement of financial position as at 4 March £
ASSETS
Bank (19,000 – 7,000 – 200) 11,800 Fixtures and fittings 6,000 Inventories 8,000 Motor car 7,000 Total assets 32,800
EQUITY AND LIABILITIES
Equity (20,000 – 200) 19,800 Trade payables 8,000 Borrowings 5,000 Total equity and liabilities 32,800 Statement of financial position as at 5 March £
ASSETS
Bank (11,800 – 2,500) 9,300 Fixtures and fittings 6,000 Inventories 8,000 Motor car 9,000 Total assets 32,300
EQUITY AND LIABILITIES
Equity (19,800 – 500) 19,300 Trade payables 8,000 Borrowings 5,000 Total equity and liabilities 32,300 Statement of financial position as at 6 March £
ASSETS
Bank (9,300 + 2,000 – 1,000) 10,300 Fixtures and fittings 6,000 Inventories 8,000 Motor car 9,000 Total assets 33,300
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