Balance Sheet for M Smith as at 28 February 2009

£ £
Fixed Assets
Premises 45000
Delivery Van 15000
60000
Intangible Assets
Goodwill 30000
Total Fixed Assets 90000

Current Assets
Stock 17000
Debtors 23000
Cash 13000
53000
Current Liabilities
Creditors 14500
Working Capital 38500

Long Term Liabilities

Bank Loan 17000

NET ASSETS (Fixed assets +

working capital - long term
liabilities) 111500

Financed by:
Capital at start 100000
add net profit 11500
111500
Both Halves of the Balance
Sheet MUST Balance because
any increase in assets MUST be
funded by an equal increase in
either capital or liabilities.
Therefore:
Assets = Capital + Liabilities
Balance Sheet for E Windsor as at 28 February 2009
£ £
Fixed Assets
Premises 75000
Delivery Van 25000
100000
Intangible Assets
Goodwill 40000
Total Fixed Assets 140000

Current Assets
Stock 67000
Debtors 53000
Cash 33000
153000
Current Liabilities
Creditors 16500
Working Capital 136500

Long Term Liabilities

Bank Loan 57000

NET ASSETS (Fixed assets +

working capital - long term
liabilities) 219500

Financed by:
Capital at start 150000
add net profit 69500
219500
Balance Sheet for T Jones as at 28 February 2009
£ £
Fixed Assets
Premises 230000
Delivery Van 165000
395000
Intangible Assets
Goodwill 120000
Total Fixed Assets 515000

Current Assets
Stock 167000
Debtors 63000
Cash 83000
313000
Current Liabilities
Creditors 136500
Working Capital 176500

Long Term Liabilities

Bank Loan 257000

NET ASSETS (Fixed assets +

working capital - long term
liabilities) 434500

Financed by:
Capital at start 389500
add net profit 45000
434500