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Module 1: Préparation des rapports

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Préparation de rapports : bilans

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Accounting - Preparation of reports: balance sheets

Balance sheets

The balance sheet taken from the 10 column worksheet may be shown as
follows:

Balance sheet as at 30 June

CURRENT ASSETS
$
$
$

Prepaid rent

2 000

Debtors

12 500

Stock - 30 June

22 000

36 500

NON-CURRENT ASSETS

Vehicles
18 000

- Accumulated depreciation of vehicles

4 700

13 300

Equipment
32 000

- Accumulated depreciation of equipment

11 100

20 900

34 200

TOTAL ASSETS

70 700

CURRENT LIABILITIES

Bank overdraft

7 600

Accrued wages

1 000

Creditors

5 800

Loan

4 000

18 400

NON CURRENT LIABILITIES

Loan

16 000

OWNER'S EQUITY

Capital

40 800

+ Net profit

17 500

58 300

- Drawings

22 000

36 300

TOTAL EQUITIES

70 700

Likely errors include:

* failure to classify into current and non-current items

* inclusion of aliens, such as revenue or expenses

* incorrect titles, for example, depreciation instead of accumulated depreciation

* the treatment of 'loan' as exclusively non-current

* failure to recognise 'bank' after preparing a cash statement

* failure to allow for the amount of the loan repaid

* non-inclusion of items, such as petty cash

* failure to add the current period's depreciation to accumulated depreciation

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