In alphabetical order below are statement of financial position items for Grande Ltd. at December 31, 2020. Kid Grande is the owner of the company. Prepare a statement of financial position, following the format of Illustration 1.9.

Accounts payable................................£90,000
Accounts receivable..............................62,500
Cash........................................................49,000
Owner’s capital.......................................21,500

 

Illustration 1.9.

Transcribed Image Text:

Softbyte Income Statement For the Month Ended September 30, 2020 Revenues € 4,700 Service revenue Expenses Salaries and wages ex pense Rent ex pense Advertising ex pense Utilities ex pense Total expenses €900 600 250 200 1,950 € 2,750 Net income Softbyte Owner's Equity Statement For the Month Ended September 30, 2020 Owner's capital, September 1 -0 Add: Investments €15,000 Net income 2,750 17,750 17,750 Less: Drawings 1,300 € 16,450 Owner's capital, September 30 Softbyte Statement of Financial Position September 30, 2020 Assets € 7,000 1,600 Equipment Supplies Accounts receivable 1,400 Cash 8,050 Total assets €18,050 Owner's Equity and Liabilities Owner's equity Owner's capital € 16,450 Liabilities Accounts payable 1,600 Total owner's equity and liabilities €18,050 Softbyte Statement of Cash Flows For the Month Ended September 30, 2020 Cash flows from operating activities Cash receipts from revenues Cash payments for expenses € 3,300 (1,950) 1,350 Net cash provided by operating activities Cash flows from investing activities Purchase of equipment Cash flows from financing activities Investments by w ner Drawings by owner (7,000) €15,000 (1,300) 13,700 Net increase in cash 8,050 Cash at the beginning of the period > Cash at the end of the period €8,050