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Modupe owns a retail shop. The following are the list of balances extracted from his  books of accounts on 31 December 2019.  Description Amount  Pula  Drawings 5,500.00 Net Profit 21,100.00 Capital 72,000.00 Long term loan 10,000.00 Creditors 2,500.00 Cash in hand 500.00 Cash in Bank 8,000.00 Debtors 3,000.00 Inventory 12,000.00 Land Buildings 40,200.00 Vehicles 28,400.00 Equipment 8,000.00 Required:  Prepare a Balance Sheet / Statement of Financial Position for Modupe as at 31 December  2019.

Modupe owns a retail shop. The following are the list of balances extracted from his  books of accounts on 31 December 2019.  Description Amount  Pula  Drawings 5,500.00 Net Profit 21,100.00 Capital 72,000.00 Long term loan 10,000.00 Creditors 2,500.00 Cash in hand 500.00 Cash in Bank 8,000.00 Debtors 3,000.00 Inventory 12,000.00 Land Buildings 40,200.00 Vehicles 28,400.00 Equipment 8,000.00 Required:  Prepare a Balance Sheet / Statement of Financial Position for Modupe as at 31 December  2019.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Modupe owns a retail shop. The following are the list of balances extracted from his 
books of accounts on 31 December 2019. 
Description Amount 
Pula 
Drawings 5,500.00
Net Profit 21,100.00
Capital 72,000.00
Long term loan 10,000.00
Creditors 2,500.00
Cash in hand 500.00
Cash in Bank 8,000.00
Debtors 3,000.00
Inventory 12,000.00
Land Buildings 40,200.00
Vehicles 28,400.00
Equipment 8,000.00
Required: 
Prepare a Balance Sheet / Statement of Financial Position for Modupe as at 31 December 
2019. 

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