The following balances are taken from the books of company ABC at the end of its first
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Question:
The following balances are taken from the books of company ABC at the end of its first year trading on 31 December 2017.
Intangible Assets 22,150
Retained Earnings 20,000
Heating and Electricity machines 900
Cash 2200
Loans (due in 2020) 1500
Payables 1300
Furniture and fittings 10,000
Trucks and vehicles 8,000
Buildings and equipment 30,000
Paid in capital 45,450
Dividends declared 10,000
Goodwill 5000
Prepare a balance sheet as at 31 December 2017. (2 Marks)
Based on the balance sheet created, discuss within your team the financial state of the company and answer.
Related Book For
Probability and Statistics for Engineers and Scientists
ISBN: 978-0495107576
3rd edition
Authors: Anthony Hayter
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