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WEEK 5
TOPIC:
Sub-topic 3: The Company Balance Sheet – Layout, Preparation, Analyzing or Interpretation.
Balance Sheet is very much different from that of a Sole proprietor especially the liability side.
The presentation of this format will give a clearer picture.
Balance Sheet
| N N Authorized capital: 1,000 Ordinary share of N1 each x 3% 400 Pref. share of N0.50 each x X Issued capital: 750 Ordinary shares @ N1 each x 3% 300 Pref. shares @ N0.50 each x
Reserves: Retained profit x Share premium x Revaluation reserve x General reserve x Revenue reserve x x Long Term Liabilities: 5% Debentures x Current Liabilities: Bank loan x Overdraft x Trade creditors x Bills payable x Accrued expenses x Prepaid income x Taxation x Proposed dividend x x xx
| N N Fixed asset: Cost Depr NBV Land & Building x x x Plant & Machinery x x x Fixture & Fitting x x x Equipment x x x Premises x x x x x x Investments: Quoted Investment x Unquoted Investment x x Intangible Assets: Goodwill x Patents x Copy rights x Development x x Currents assets: Stock x Debtors x Bank x Cash in hand x Accrued income x Prepaid expenses x Bills receivable x x
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