You are given the following information about Company ABC as at 31/12/2023

Premises Shs 25,000,000

Motor vehicles Shs 2,000,000

Electricity bills (Owings) shs500, 000

Creditors' Shs 4,500,000

Cash in hand Shs 500,000

Bank overdraft Shs 3,000,000

Loan Equity Bank 4,000,000

Prepayments Shs 600, 000 Accrued Salaries Shs 2,589, 000

Required:

i)Compute Equity

ii)Draw up a statement of financial position

Answer rating: 100% (QA)

To compute the equity and draw up a statement of financial position also known as a balance sheet fo... View the full answer