Jay Joy owns a coffee shop. The financial year ends on 30 September. Her Balance Sheet (Statement of financial position) prepared on 30 September 2021 is shown below. Some words and figures are missing.

8 REQUIRED (a) Enter the missing words or figures in each of the boxes (i) to (vii). Jay Joy Balance Sheet (Statement of Financial Position) as at 30 September 2021 N$ N$ N$ OWNER’S EQUITY (i)………………… Capital 96 800 Add: Net profit 15 000 111 800 Less: (ii)………………. 10 000 EMPLOYMENT OF CAPITAL Fixed Assets (Noncurrent assets) Cost price Provision for depreciation (iii)……………………….. Machinery 15 000 2 250 12 750 Furniture 65 000 9 750 55 250 Fixtures and Fittings 26 000 (iv)……………… 23 400 106 000 14 600 91 400 Working capital (vi)………………….. Current assets 20 400 Stock (Inventory) 8 000 Accrued income (Other receivables) (v)………………………. Bank 10 400 Current liabilities 10 000 Accrued Expenses (Other payables) 10 000 (vii)…………………….

Answer rating: 100% (QA)

i The missing word is Retained This represents the accumulated profits that the business has retaine... View the full answer