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Prepare a statement of financial position of the business

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Reference no: EM132954538

The following is a list of the assets &"claims" of Docklands Engineering LTD at 31/12/2019:
                            £
Trade Payables 86,000
Motor Vehicles 38,000
Long Term Borrowing from Industrial Finance Co. 260,000
Equipment and Tools 207,000
Short Term borrowings 116,000
Inventories 153,000
Property 320,000
Trade Receivables 185,000

Required:

Problem 1: Prepare a statement of financial position of the business as at 31st December 2019from the above information using the standard layout. (Hint: There is a missing item that needs to be calculated.)

Problem 2: Discuss the significant features revealed by the financial statement.

Reference no: EM132954538

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