The classified balance sheet shows the business had current assets of $27,230 including cash, GST refund, debtors, and stock. Non-current assets included shop fittings valued at $8,100 and vehicles at $32,000. Current liabilities were creditors of $5,330 and a non-current liability was a loan of $29,000. Owner's equity was $33,000 in capital. The total assets equaled total equities of $67,330.

1. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 2 – BALANCE SHEETS
Page | 1
Student50
Chapter 2 – Task D
Prepare a Classified Balance Sheet for the business as at 31 July 2015.
Balance Sheet as at 31 July 2015
$ $ $ $
Current Assets Current Liabilities
Cash at bank 6315 Creditors 5330
GST refund 445
Debtors 6820 Non‐Current Liabilities
Stock 13650 27230 Loan 29000
Non‐Current Assets Owner’s Equity
Shop fittings 8100 Capital 33000
Vehicles 32000 40100
TOTAL ASSETS 67330 TOTAL EQUITIES 67330
15 marks
Marks:
 2 marks = Cash at bank and Capital
 1 mark = all other figures