← 4.2 Effects of Business Transactions
Preparing the statement of financial position
Business Studies · Grade 10 · about 40 minutes
Setting out a business's assets, capital and liabilities in a statement of financial position, adjusting it for transactions, and reading off the net worth.
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- 6 sections of explanation, worked examples and diagrams
- 1 practice task with hints and worked answers
- A quiz that marks itself as you go
- Your progress kept across every subject you take
Other lessons in this sub-strand
- Assets, liabilities, capital and the accounting equation
- Preparing the statement of financial position
- Classifying assets
- Classifying liabilities and capital
- The double effect of every transaction
- Swapping one asset for another
- Transactions that raise both sides
- Transactions that lower both sides
- Drawings and capital introduced
- Profit, loss and net worth
- Tracing a day's transactions
- Preparing the statement after adjustments