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Balance sheet practice ADVANCED: Sally's Sandwiches is a family run business. They don't have a lot of experience in finance and they hoped to save money by not hiring a professional. Their cousin Lin complied the information, but realized it was too hard to make the balance sheet. Using the information below, create a balance sheet for them so that they don't have to hire someone. Information for Sally's Sandwiches as at 28 February 2022 Trade creditors Non-current assets Sales revenue Cash Overdraft Cost of good sold Borrowings- long-term Debtors Interest Share capital Short term loans Expenses Dividends Stock 10 150 45 7 5 13 62 20 15 63 21 34 11 12 Accumulated retained profits 28

Balance sheet practice ADVANCED: Sally's Sandwiches is a family run business. They don't have a lot of experience in finance and they hoped to save money by not hiring a professional. Their cousin Lin complied the information, but realized it was too hard to make the balance sheet. Using the information below, create a balance sheet for them so that they don't have to hire someone. Information for Sally's Sandwiches as at 28 February 2022 Trade creditors Non-current assets Sales revenue Cash Overdraft Cost of good sold Borrowings- long-term Debtors Interest Share capital Short term loans Expenses Dividends Stock 10 150 45 7 5 13 62 20 15 63 21 34 11 12 Accumulated retained profits 28

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Balance sheet practice ADVANCED: Sally's Sandwiches is a family run business. They don't have a lot of experience in finance and they hoped to save money by not hiring a professional. Their cousin Lin complied the information, but realized it was too hard to make the balance sheet. Using the information below, create a balance sheet for them so that they don't have to hire someone. Information for Sally's Sandwiches as at 28 February 2022 Trade creditors Non-current assets. Sales revenue Cash Overdraft Cost of good sold Borrowings- long-term Debtors Interest Share capital Short term loans 10 150 45 7 5 13 Expenses Dividends Stock 62 20 15 63 21 34 11 12 Accumulated retained profits 28
Transcribed Image Text:Balance sheet practice ADVANCED: Sally's Sandwiches is a family run business. They don't have a lot of experience in finance and they hoped to save money by not hiring a professional. Their cousin Lin complied the information, but realized it was too hard to make the balance sheet. Using the information below, create a balance sheet for them so that they don't have to hire someone. Information for Sally's Sandwiches as at 28 February 2022 Trade creditors Non-current assets. Sales revenue Cash Overdraft Cost of good sold Borrowings- long-term Debtors Interest Share capital Short term loans 10 150 45 7 5 13 Expenses Dividends Stock 62 20 15 63 21 34 11 12 Accumulated retained profits 28
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