| £ |
£ |
£ |
|
| Fixed Assets |
Cost |
Depre-
ciation |
Net Book
Value |
| 1,900 |
355 |
1,545 |
|
| Current Assets |
|||
| Total Current Assets |
910 |
||
| Current Liabilities |
|||
| Total Current Liabilities |
(400) |
||
| Net Current Assets |
510 |
||
| Long Term Liabilities |
|||
| Loan |
(55) |
||
| £2,000 |
|||
| Represented by: |
|||
| Capital |
1,500 |
||
| +Profits. [=profit for the
year of £200 + profits made in previous years of £1,000] |
1,200 |
||
| -Drawings |
(700) |
||
| £2,000 |