Week 2 C31FF TUTORIAL QUESTIONS - 1414040219
Week 2 C31FF TUTORIAL QUESTIONS - 1414040219
Week 2 C31FF TUTORIAL QUESTIONS - 1414040219
£000
Trade payables 86
Motor vehicles 38
Long-term borrowing (Loan from Industrial Finance Company) 260
Equipment and tools 207
Short-term borrowings 116
Inventories 153
Property 320
Trade receivables 185
Required:
a) Prepare the statement of financial position of the business as at 30 June last year from the
information provided, using the standard layout. (Hint: There is a missing item that needs to be
deduced and inserted.)
b) Discuss the significant features revealed by this financial statement.