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Instructor’s Manual Accounting and Finance for Non-Specialists Seventh Edition Peter Atrill
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
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
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