Prepare Balance sheet of Mr. Vengo for the year 31* December 2020 in T-form:ParticularsAmountParticularsAmountCapital40,0004,400DrawingsCreditorsCash at bankDebtors6,4004,200Cash in hand3607,200Furniture3,700Plant10,000Net profitClosing stock1,660General reserve1,00014,800

Balance Sheet: The balance sheet is a statement that shows the financial position of the business.…

Answered: "repare Balance sheet of Mr. Vengo for…

"repare Balance sheet of Mr. Vengo for the year 31 Decembe Particulars Particulars Capital Amount 40,000 6,400 Drawings Creditors Debtors Cash in hand 360 Cash at bank

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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A: answer are as follows.

Question

Prepare Balance sheet of Mr. Vengo for the year 31* December 2020 in T-form:
Particulars
Amount
Particulars
Amount
Capital
40,000
4,400
Drawings
Creditors
Cash at bank
Debtors
6,400
4,200
Cash in hand
360
7,200
Furniture
3,700
Plant
10,000
Net profit
Closing stock
1,660
General reserve
1,000
14,800

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