This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.

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Answer
See balance sheet above.
Here is the balance sheet prepared from the list of balances:
8. Prepare a balance sheet from the following list of balances.
Balance Sheet As at [Date - not provided, so omitted]
| Assets | Le | Le | | :---------------------- | :-------- | :-------- | | Non-current Assets | | | | Premises | 1,000 | | | Land | 6,000 | | | Total Non-current Assets | | 7,000 | | | | | | Current Assets | | | | Debtors | 3,500 | | | Cash | 1,000 | | | Stock | 1,000 | | | Total Current Assets | | 5,500 | | | | | | TOTAL ASSETS | | 12,500 | | | | | | Capital and Liabilities | | | | Owner's Equity | | | | Capital | 9,300 | | | Add: Net Profit | 700 | | | Less: Drawings | (2,500) | | | Total Owner's Equity | | 7,500 | | | | | | Non-current Liabilities | | | | Loan | | 1,000 | | | | | | Current Liabilities | | | | Creditors | 500 | | | Bank Overdraft | 3,500 | | | Total Current Liabilities | | 4,000 | | | | | | TOTAL CAPITAL AND LIABILITIES | | 12,500 |
\text{See balance sheet above.}
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This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.