Business – 10.1 Financial statements – Statement of financial position | e-Consult
10.1 Financial statements – Statement of financial position (1 questions)
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Original figures (simplified):
| Assets | £500,000 |
| Current Liabilities | £120,000 |
| Non‑Current Liabilities | £180,000 |
Adjustments:
- Reduce inventory (an asset) by £15,000 → Assets become £485,000.
- Reclassify £40,000 of the loan from current to non‑current:
- Current Liabilities decrease to £80,000.
- Non‑Current Liabilities increase to £220,000.
Amended statement of financial position:
| Assets | £485,000 |
| Current Liabilities | £80,000 |
| Non‑Current Liabilities | £220,000 |
| Total Liabilities | £300,000 |
| Equity (Implied) | £185,000 |