FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A. Below are the accounts of Agatha Trading for the year ended December 31, 2019.
Accounts Payable 100,000.00
Capital 1,840,000.00
Cash 1,000,000.00
Inventories 450,000.00
Long term debt 300,000.00
Notes Payable 100,000.00
Notes Receivable 100,000.00
Property, Plant & Equipment 550,000.00
Supplies and other prepayments 100,000.00
B. Prepare a statement of financial position and label its parts. After which, answer the following questions.
a. How much is the total current liability of the entity?
b. How much is the total non current asset of the entity?
c. How much is the total current liability of the entity?
d. How much is the total non current liability of the entity?
e. How much is the total asset of the entity?
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