A company owns building worth 200,000, equipment worth 20,000 and Vehicle worth 30,000. At the start of
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A company owns building worth £200,000, equipment worth £20,000 and Vehicle worth £30,000. At the start of the year it also has £6,000 in cash, bank balance £6,000 and stocks of materials worth £20,000.
It knows that this month it will need to pay a loan amount of £6,000 and payments to creditors £8,000. The expected income from sales this month is £17,000.
Complete the following table:
| Fixed assets | |
| Current assets | |
| Liabilities | |
| Receipts | |
| Total assets | |
| Overall wealth/ Networth |
As a financial manager in this organisation you have been asked to comment on the figures.
Expert Answer:
Sure heres the completed table Fixed assets Building 200000 Equipment 20000 Vehicle 30000 Total fixe... View the full answer
Related Book For 
Intermediate Accounting
ISBN: 978-0071339476
Volume 1, 6th Edition
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
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