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Prepare a statement of financial position of the business

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Reference no: EM133023040

Question - 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 -

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.)

Discuss the significant features revealed by the financial statement.

Reference no: EM133023040

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