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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education