Prepare a balance sheet of pb ltd

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Reference no: EM131341169

The following is a list of the assets and claims of PB Ltd as at 31 December 2004:

	EUR
Trade and other payables	1,720
Delivery van	27,600
Bank loan	52,000
Machinery and equipment	21,400
Bank overdraft	23,200
Inventory	30,600
Building	64,000
Trade and other receivables	37,000

(a) Prepare a balance sheet of PB Ltd as at 31 December 2004 from the information listed using the vertical format. Bear in mind that there is a missing item which needs to be determined and inserted.

(b) Discuss the significant features revealed by this financial statement.

Reference no: EM131341169

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