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    The document provides an example of a Statement of Financial Position, or balance sheet, for a sole trader business. It lists assets (both current and non-current), capital, and liabilities (both current and non-current). Non-current assets include land and buildings, plant and equipment, and fixtures and fittings. Current assets include inventories, accounts receivable, prepayments, and cash. Capital represents the owner's equity, and liabilities include a loan, accruals, accounts payable, and bank overdraft.

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    The document provides an example of a Statement of Financial Position, or balance sheet, for a sole trader business. It lists assets (both current and non-current), capital, and liabilities (both current and non-current). Non-current assets include land and buildings, plant and equipment, and fixtures and fittings. Current assets include inventories, accounts receivable, prepayments, and cash. Capital represents the owner's equity, and liabilities include a loan, accruals, accounts payable, and bank overdraft.

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    13 views1 page

    Sofp ST

    Uploaded by

    Plawan Ghimire
    The document provides an example of a Statement of Financial Position, or balance sheet, for a sole trader business. It lists assets (both current and non-current), capital, and liabilities (both current and non-current). Non-current assets include land and buildings, plant and equipment, and fixtures and fittings. Current assets include inventories, accounts receivable, prepayments, and cash. Capital represents the owner's equity, and liabilities include a loan, accruals, accounts payable, and bank overdraft.

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    Financial Accounting Sept-Dec 2018 Exams Watch free Financial Accounting lectures 10

    3. The Statement of Financial Position


    Below is an example of the layout of a Statement of Financial Position for a sole trader:

    Statement of Financial Position as at 31 March 2009

    $ $
    ASSETS

    Non-current assets
    Land and Buildings 100,000
    Plant and Equipment 50,000
    Fixtures and Fittings 20,000
    Motor Vehicles 30,000
    200,000

    Current assets
    Inventories 10,000
    Accounts receivable 12,000
    Prepayments 3,000
    Cash 4,000
    29,000
    $ 229,000
    CAPITAL AND LIABILITIES

    Capital
    Capital at 1 April 2008 130,000
    Profit for year to 31 March 2009 50,000
    Less: withdrawals (10,000)
    170,000

    Non-current liabilities
    8% Loan 25,000

    Current liabilities
    Accruals 2,000
    Accounts payable 20,000
    Bank overdraft 12,000
    34,000
    $ 229,000

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