Using the information in Review Question 35.13, prepare P. Maclarans Statement of Financial Position as at 31

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Using the information in Review Question 35.13, prepare P. Maclaran’s Statement of Financial Position as at 31 December 2011.

Question 35.13

The following are summaries of the cash book and bank accounts of P. Maclaran who does not keep her books using the double entry system.

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You are required to:

(a) Calculate the value of P. Maclaran’s capital on 1 January 2011.

(b) Prepare the Income Statement for the year ending 31 December 2011.

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Frank Woods Business Accounting

ISBN: 9780273759287

12th Edition

Authors: Frank Wood. Sangster, Alan

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