Use the following information to prepare the statement of financial position as at 31 March 20.9. The following balances appear in the books of XYZ Stores as at 31 March 20.9. Additional InformationStock on hand as at 31March 20.9 was R 10 000The net profit for the year was R13 930.Please assist me with this home work CapitalDrawingsVehiclesAccumulated depreciation on vehiclesEquipmentAccumulated depreciation on equipmentShare JSEStock (1 April 20.8)DebtorsCreditorsBankSalesPurchasesConsumablesStationary expenseRent incomeWagesGeneral ExpenseR106 10012 50055 0005 50030 0003 0008 50020 0006 3655 90012 065126 76690 5057259343 17011 4752 367

Statement of financial position shows the balance of each assets and liabilities of the enterprise…

Answered: Capital Drawings Vehicles Accumulated…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Use the following information to prepare the statement of financial position as at 31 March 20.9. The following balances appear in the books of XYZ Stores as at 31 March 20.9.

Additional Information

Stock on hand as at 31March 20.9 was R 10 000
The net profit for the year was R13 930.

Please assist me with this home work

Capital
Drawings
Vehicles
Accumulated depreciation on vehicles
Equipment
Accumulated depreciation on equipment
Share JSE
Stock (1 April 20.8)
Debtors
Creditors
Bank
Sales
Purchases
Consumables
Stationary expense
Rent income
Wages
General Expense
R
106 100
12 500
55 000
5 500
30 000
3 000
8 500
20 000
6 365
5 900
12 065
126 766
90 505
725
934
3 170
11 475
2 367

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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