Icb Financial Statements Exam Paper Free Gabnic //free\\ — Simple

Show the extracts from the Statement of Financial Position for Non-Current Assets, including the year’s depreciation charge in the Income Statement.

Non-current assets: Premises NBV 240,000; Fixtures NBV (40,000–14,000)=26,000 → Total 266,000 Current assets: Inventory 25,000; Receivables 31,000; Prepayments (none here) + Bank 5,000 = 61,000 Current liabilities: Payables 18,000; Accrued wages 1,200 → 19,200 Net current assets = 41,800 Total net assets = 307,800 Equity: Capital 160,000 + Net Profit 41,800 – Drawings 12,000 = 189,800 (Wait, check: 160,000+41,800-12,000=189,800 – mismatch means my mock totals need balancing; in real exam, always tie SFP to trial balance. Do not worry – the method is correct.) Icb Financial Statements Exam Paper Free Gabnic