Bento June 15

Good morning sir

even tho it is not asked for in the question, i wanted to prepare (for the sake of practice) SOFP after the sale by incorporating all the notes.

and i get the following figures:

Assets
NCA – 53040
CA – 12300
Balancing figure – 2560
Total===67900

Equity/liabilities

Equity —– 10,000
8% loan — 30,000
6% loan — 20,000
payables — 7900
Total=== 67900

if the above is correct, what do we call the balancing figure?

thank u

ps: Q1 in march exam was something like this with a whole bunch of notes etc.