What are all the constituents of a balance sheet and which values carry over from the last year's balance sheet (if any). Do these values seem to be possible constituents of a balance sheet?
What are all the constituents of a balance sheet and which values carry over from the last year's balance sheet (if any). Do these values seem to be possible constituents of a balance sheet?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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What are all the constituents of a

Transcribed Image Text:Joy Toy Ltd. Balance Sheet
October 31, 2020
Assets
Non-current
Depreciated machine
£8,000
Current
Closing Inventory
£1,200
Customer Invoices
£1,710
Uncollectable invoices
£90
Rent Prepayment
£1,500
Total Assets
£12,500
Equity & Liabilities
Equity
Dividend
£5,414
Gain on delivery van disposal
£850
Total Equity
£6,264
Liabilities
Non-current
Current
Loan payment
£676
Trade payables
£460
Таx payable
£700
Unearned revenue for Jan 2021 order
£380
Telephone bill
£20
Unpaid salary
£600
Total Liabilities
£2,836
Total Equity & Liabilities
(£12,500)
Missing 3,400 from equity and liabilities
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