The Accountant has also asked for you to assist in preparing the statement of financial position (balance sheet) for the Construction in Building partnership for the year ended 30 June 2011.
Using the trial balance, prepare a statement of financial position (balance sheet) for the partnership as at 30 June 2011. Do NOT use brackets, minus signs or dashes.
Trial balance for Construction in Building for the year ended 30 June 2011
|
|
Dr £
|
Cr £
|
|
|
|
|
Accruals
|
|
1,100
|
|
Prepayments
|
505
|
|
|
Bank
|
10,230
|
|
|
Capital - Shirley
|
|
33,375
|
|
Capital - Ken
|
|
59,750
|
|
Capital - Reeny
|
|
21,375
|
|
Cash
|
120
|
|
|
Closing inventory
|
23,500
|
|
|
Current account - Shirley
|
|
55,397
|
|
Current account - Ken
|
|
63,803
|
|
Current account - Reeny
|
|
8,300
|
|
Drawings - Shirley
|
25,870
|
|
|
Drawings - Ken
|
40,000
|
|
|
Drawings - Reeny
|
3,000
|
|
|
|
|
|
Motor vehicles at cost
|
69,500
|
|
|
Motor vehicles accumulated depreciation
|
|
22,094
|
|
Plant and machinery at cost
|
114,500
|
|
|
Plant and machinery accumulated
depreciation
|
|
41,781
|
|
|
|
|
Allowance for doubtful debts
|
|
1,500
|
|
|
|
|
Trade Payables control account
|
|
18,000
|
|
|
|
|
Trade receivables control account
|
42,000
|
|
|
|
|
|
VAT
|
|
2,750
|
|
Total
|
329,225
|
329,225
|