Question: Sandra has provided you with the following information which relates to her business at 31 March 20*8: Premises at cost 40,000; machinery at cost 10,000;

Sandra has provided you with the following information which relates to her business at 31 March 20*8:
Premises at cost £40,000; machinery at cost £10,000; office equipment at cost £4,000; vehicle at cost £9,000; long-term bank loan £18,000; stock £4,000; debtors £1,200; creditors £500; bank balance £800. She is unable to tell you what her capital is currently.

Required

Prepare the balance sheet at 31 March 20*8. Use a vertical layout.

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