Using the following information, prepare a properly classified Statement of Financial Position REPORT FORM 0ther current liabilities 125,890 Bonds payable 5,000,000 Cash 2,500,000 Current income tax payable 589,660 Intangible assets 2,654,700 Investment in associate 1,890,600 Investment in equity securities 3,650,400 Investment property 1,968,740 Long-term notes payable 2,000,000 Merchandise inventory 2,789,000 Office supplies 400,000 Other noncurrent assets 600,000 Other noncurrent liabilities 750,000 Owner's Equity 18,211,250 Prepayments and other current assets 385,000 Property, plant, and equipment 9,856,250 Short-term notes payable 320,000 Accounts payables 1,562,890 Account receivables 1,865,000
Using the following information, prepare a properly classified Statement of Financial Position REPORT FORM 0ther current liabilities 125,890 Bonds payable 5,000,000 Cash 2,500,000 Current income tax payable 589,660 Intangible assets 2,654,700 Investment in associate 1,890,600 Investment in equity securities 3,650,400 Investment property 1,968,740 Long-term notes payable 2,000,000 Merchandise inventory 2,789,000 Office supplies 400,000 Other noncurrent assets 600,000 Other noncurrent liabilities 750,000 Owner's Equity 18,211,250 Prepayments and other current assets 385,000 Property, plant, and equipment 9,856,250 Short-term notes payable 320,000 Accounts payables 1,562,890 Account receivables 1,865,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Using the following information, prepare a properly classified
|
0ther current liabilities |
125,890 |
|
Bonds payable |
5,000,000 |
|
Cash |
2,500,000 |
|
Current income tax payable |
589,660 |
|
Intangible assets |
2,654,700 |
|
Investment in associate |
1,890,600 |
|
Investment in equity securities |
3,650,400 |
|
Investment property |
1,968,740 |
|
Long-term notes payable |
2,000,000 |
|
Merchandise inventory |
2,789,000 |
|
Office supplies |
400,000 |
|
Other noncurrent assets |
600,000 |
|
Other noncurrent liabilities |
750,000 |
|
Owner's Equity |
18,211,250 |
|
Prepayments and other current assets |
385,000 |
|
Property, plant, and equipment |
9,856,250 |
|
Short-term notes payable |
320,000 |
|
Accounts payables |
1,562,890 |
|
Account receivables |
1,865,000 |
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