1 FINANCIAL DATA AND DECISION MAKING TEST STUDENT NAME: ………………………………… I.D: ………………………………………………….. Time Allowed: 60 Minutes Total Marks: 15 One question to be completed. 3 parts. Answer questions in the space provided.2 Question 1 Required (1) Prepare a Statement of Financial Performance (Profit and Loss Statement) (2) Prepare a Statement of Financial Position (Balance Sheet) (3) Prepare a Cash Flow Statement (5 + 5 + 5 = 15 marks) Information Statement of Financial Position at Start Current Assets Current Liabilities Bank 3,000 Trade Creditors 2,000 Debtors 2,500 Short Term Loan 1,000 Stock 1,500 Non-Current Assets Non – Current Liabilities Equipment 26,000 Loan 10,000 Proprietorship 20,000 33,000 33,000 Transactions for the Period • Cash Sales 20,000 • Credit Sales 15,000 • Credit Stock purchases 20,000 • Stock at End 2,600 • Paid Creditors 18,000 • Paid Wages 6,000 • Depreciation of Equipment 2,000 • Collection from Debtors 14,000 • Repayment of Loan 5,000 • Purchase of Vehicle (Cash) 20,0003 Requirement (1) Statement of Financial Performance4 Requirement (2) Statement of Financial Position5 Requirement (3) Cash Flow Statement