O-LevelAccountingPreparation of financial statements7707/11 · Oct/Nov 2015 · Q211 Mark
A sports club was formed on 1 January 2014. During the year ended 31 December 2014 the club purchased equipment costing $5000, paying by cheque. In which of the club's financial statements did this appear?
Areceipts and payments account: ✓
Bincome and expenditure account: ✓
Cstatement of financial position: ✓
Dreceipts and payments account: ✓, statement of financial position: ✓
✓ Correct answer
C: statement of financial position: ✓
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