3.2 The balance sheet shows the following:
Jane’s Windsurfing Limited Balance Sheet
Computers, equipment, racking, van
25,700 ______
Trading stocks
46,200 29,100 25,600
Debtors
Cash and bank Trade creditors
(31,800) (1,900) (6,900) (10,600) ______ 49,700 ______
PAYE and NIC payable
VAT payable
Corporation tax payable
Net current assets
Provision for liabilities - deferred tax
(3,300)
Net assets
72,100
Share capital
20,000
11
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