The following information is provided by Sandeep, a painter and decorator, at 31 January 20*8: Capital 4,300;
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The following information is provided by Sandeep, a painter and decorator, at 31 January 20*8:
Capital £4,300; vehicle at cost £8,000; tools at cost £250, bank loan repayable in four years’ time £4,000; stocks of paint £110; money owed to suppliers of paint £60.
Required
Prepare the balance sheet at 31 January 20*8. Use a horizontal layout. Classify all assets and liabilities.
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