We read your photo as:
Prepare a balance sheet from the following list of balances.
Accounting
ScanSolve AI Answer
Answer
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 |
See balance sheet above.
Was this helpful?
Try one yourself
A new problem that tests the same skill.
Still stuck on this one?
Ask a follow-up, and the answer starts from this question.
Got a different question?Ask your own question
More Accounting Questions

Handwritten Step-by-Step Solution
Get this as a handwritten image on WhatsApp — like a tutor wrote it for you.
Try on WhatsApp