Page 128 - Agri-Business Management Handbook
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XX Associates Statement of Financial Position as at 31 December 2013
ASSETS
Non-current assets
Equipment A the beginning + additional 37950+6000- 39,555
purchased – depreciation 4395
Current assets
Inventories At the beginning + inventory 18300+214500+ 22,800
purchased – inventory sold (cost) 18000-228000
Trade receivables At the beginning + credit sales – 31950+316500- 51,450
receipts from customers 297000
Prepaid Proportion of unused insurance on 25% x 14000 3,500
expenses 31 Dec 2013
(insurance) 1,500
Excess rent paid 37500-36000 4,400
Prepaid rent
Balance in the statement of cash
Cash flows
Total current 123,205
assets
Total assets
(non-current
assets + current
assets)
EQUITY AND Balance at the beginning + 37500+23000- 20,500
LIABILITIES additional capital – salary drawn 40000
Equity:
Balance at the beginning + profits 35850+56705 92,555
Share capital for 2013 113,055
Retained
earnings
71AGRI-BUSINESS MANAGEMENT HANDBOOK |
