Sample Resume : Cash At Bank 9000

1205 WordsJul 27, 20155 Pages
Answer 1: Current Assets $ $ Cash at bank 9,000 Accounts receivable 6,000 Inventory 15,000 Prepayments 1,000 _______ Total current assets 31,000 Non-current asset: Plant and machinery 26,000 Land and Building 50,000 Asset revaluation increment 20,000 Motor vehicles 18,000 _______ Total Non-current assets 114,000 _______ Total assets 145,000 ======= Current liabilities: Accounts payable 11,000 ______ Total Current liabilities 11,000 Non-current liabilities: Bank overdraft 14,000 Loan 10,000 ______ Total Non-current liabilities 24,000 Owners’ equity: Opening balance 40,000 Plus: profit 32,000 Less: drawings 10,000 ______ 62,000 Suspense Accounts 48,000 _______ Total liabilities and owners’ equity 145,000 ====== It is not possible to comment on the financial position of the organisation as there is a mismatch of Asset and Liability side (Shown in the Suspense Account). Here at first it is required to find out the reason of such discrepancy. Once it is determined then the financial statement of the organisation need to prepared correctly again and then on the basis of the correct financial statement we can comment on the financial position of the organisation. Answer 2: Southern Cross Printing Co Income Statement Sales $100,000 Less: Inventory purchases (Cash) 30,000 Inventory

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