Belem%Manufacturing%Ltd%is%a%small%company%that%makes%clothing%in%Lisbon%in%Portugal.%The%company’s%
owner,%Maria%Sampaio,%has%collected%together%the%information%below.%She%is%about%to%construct%the%
company’s%statement%of%financial%position%for%the%previous%financial%year.%All%figures%are%$000s.%
• !Share%capital:%1,860%
• ●!!Bankoverdraft:2,000%
• ●!!Creditors:1,500%
• ●!!Non-currentassets:7,977%
• ●!!Stocks:1,500%
• ●!!Borrowings–long-term:1,041%
• ●!!Retainedprofits:2,931%
• ●!!Debtors:1,075%
• ●!!Accumulateddepreciation:1,000%
• ●!!Other%short-term%loans:%1,220%
• ●!!Cash:1,000%
1. 1""Using%examples,%distinguish%between%assets%and%liabilities.%[4]%
2. 2""Distinguish%between%creditors%and%debtors.%[4]%
3. 3""Prepare%Belem%Manufacturing%Ltd’s%statement%of%financial%position.%[6]%
