Fixed Assets

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					Fixed Assets                                             Fixed Assets describes things a company
Land and Buildings        5,000                          owns which are used for production e.g.
Vehicles                  8,000
                                                         factories, buildings, machinery, vehicles.
Furnishings               7,500
                                              20,500     Add these together and write the total here
Current Assets
Stock                    15,000                          Current Assets are things that can be easily
Cash                      2,500                          converted to cash. Includes stock, cash and
                                                         money owed by debtors
Debtors                   3,000
                                    20,500

Current Liabilities                                      Add these together and write the total here
Creditors                 2,000
Bank loan                 4,500                          Current Liabilities are items that the firm
                                     6,500               owes that are due within 12 months.
                                                         Includes cash owed to creditors and loans
Net Current Assets                            14,000

                                                         Add these together and write the total here
Total Assets less
current liabilities                           34,500
                                                         Net Current Assets = Current Assets –
                                                         Current Liabilities
Capital
Shareholders funds                            30,000
                                                         Total Assets less current liabilities = Net
Retained profit                                4,500     Current Assets + Fixed Assets
                                              34,500



The money must have come from somewhere!!!!! Total
Assets less current liabilities belongs to the share
holders and retained profit. These two entries must be
equal to the Total Assets less Current Liabilties.




                      BALANCE SHEETS

				
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posted:11/7/2012
language:English
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