TOTAL ASSETS 52,000 RETAINED EARNINGS Q1 TOTAL NON CURRENT LIABIUTY Q2 Inventories 6,000 Non Current Term Loan 6,000 TOTAL NON CURRENT ASSETS Q3 STATED CAPITAL 25,000 Trade Receivable 12,000 TOTAL EQUITY AND LIABILITIES 52,000 TOTAL CURRENT LIABILITIES Q4 TOTAL CURRENT ASSETS 24,000 Property, Plant & Equipement Long Term Investment Q5 8,000 CAPITAL SURLUS 3,800 Short Term Investment 4,000 Cash and Bank Q6 TOTAL EQUITY 39,000 Bank Overdraft 4,000 Accounts Payable Q7

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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8:52
all ?
A docs.google.com
CURRENCY SIGN YOU WILL BE MARKED WRONG
2)ADD COMMA(.) TO DISTINGUISH FIGURES WHICH ARE
IN THOUSANDS. Eg Figures in thousands should be stated
as 2,000: 6,000 etc
ASAF COMPANY LTD
STATEMENT OF FINANCIAL POSITION
YEAR ENDED 31/12/2020
GH¢
TOTAL ASSETS
52,000
RETAINED EARNINGS
Q1
TOTAL NON CURRENT LIABIUTY
Q2
Inventories
6,000
Non Current Term Loan
6,000
TOTAL NON CURRENT ASSETS
Q3
STATED CAPITAL
25,000
Trade Receivable
12,000
TOTAL EQUITY AND LIABILITIES
52,000
TOTAL CURRENT LIABILITIES
Q4
TOTAL CURRENT ASSETS
24,000
Property, Plant & Equipement
Long Term Investment
Q5
8,000
CAPITAL SURLUS
3,800
Short Term Investment
4,000
Cash and Bank
Q6
TOTAL EQUITY
39,000
Bank Overdraft
4,000
Accounts Payable
Q7
Q1
Your answer
Transcribed Image Text:8:52 all ? A docs.google.com CURRENCY SIGN YOU WILL BE MARKED WRONG 2)ADD COMMA(.) TO DISTINGUISH FIGURES WHICH ARE IN THOUSANDS. Eg Figures in thousands should be stated as 2,000: 6,000 etc ASAF COMPANY LTD STATEMENT OF FINANCIAL POSITION YEAR ENDED 31/12/2020 GH¢ TOTAL ASSETS 52,000 RETAINED EARNINGS Q1 TOTAL NON CURRENT LIABIUTY Q2 Inventories 6,000 Non Current Term Loan 6,000 TOTAL NON CURRENT ASSETS Q3 STATED CAPITAL 25,000 Trade Receivable 12,000 TOTAL EQUITY AND LIABILITIES 52,000 TOTAL CURRENT LIABILITIES Q4 TOTAL CURRENT ASSETS 24,000 Property, Plant & Equipement Long Term Investment Q5 8,000 CAPITAL SURLUS 3,800 Short Term Investment 4,000 Cash and Bank Q6 TOTAL EQUITY 39,000 Bank Overdraft 4,000 Accounts Payable Q7 Q1 Your answer
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