. The following are extracted balances from Harbhajan’s business accounts along withother information relating to the business’s year end on 30 April 2017. For some reason, the figure for Capital at the beginning of the year has not been supplied, although you have been given the year end net profit figure:£Capital as at 1 May 2016unknownMachineryat cost100,000Sales Revenue59,000Motor Vehicles at cost50,000Purchases25,000Trade Receivables13,500Trade Payables12,500Accumulated [provision for] depreciation:Machinery10,000HM Revenue and Customs: VAT (owing)7,750Net Profit as at 30 April 20177,105Accumulated [provision for] depreciation:Motor Vehicles5,000Water and Utilities4,500Inventory as at 1 May 20163,500Wages and Salaries3,500Rent3,000Bank (in funds)1,800Purchases Returns1,355Business Rates1,250Bad Debts written off1,150Sales Returns1,250Discounts Allowed950Cash in Hand760Drawings750Discounts Received550The Rent figure includes £600 relating to May, June and July 2017.The Machinery still has to be depreciated at year end by 10% straight line.There was unpaid Wages and Salaries at year end 30 April 2017 of £800.Stocktake at year end 30 April 2017 valued Inventory at £5,000.Motor Vehicles need year end depreciation (diminishing [reducing] balance at 10%).
Use the information given about Harbhajan’s business as appropriate to prepare aStatement of Financial Position for its year end, including the missing figure for Capital.

 
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