2. Analyze the statement of financial position for the year 2020 and compare it with the year 2019. Identify and explain 5 of the most important issues. Shawanaga First Nation Consolidated Statement of Financial Position 31-Mar 2020 2019 Financial assets Cash and cash equivalents 2,381,565 1,928,561 Restricted cash (Note 3) 914,810 769,332 Receivables 2,187,464 1,946,584 Inventory for resale 123,789 147,970 Investments in government business enterprise (Note 5) 326,802 444,282 Mortgages receivable, net of unamortized discount (Note 18) 917,666 632,185 Long-term loan receivable 1,240 1,240 6,853,336 5,870,154 Liabilities Payables and accruals 1,546,121 1,481,393 Funding repayable (Note 19) 472,591 478,836 Due to related parties (Note 11) 44,125 44,234 Deferred contributions (Note 7) 576,408 1,243,436 Long term debt (Note 12) 1,328,572 879,790 Obligations under capital lease (Note 13) 654 2814 3,968,471 4,130,503 Net financial assets 2,884,865 1,739,651 Non-financial assets Prepaids and deposits 53,412 51,679 Tangible capital assets (Note 6) 3,918,837 3,984,577 3,972,249 4,036,256 Accumulated surplus (Note 14) 6,857,114 5,775,907
2. Analyze the statement of financial position for the year 2020 and compare it with the year 2019. Identify and explain 5 of the most important issues. Shawanaga First Nation Consolidated Statement of Financial Position 31-Mar 2020 2019 Financial assets Cash and cash equivalents 2,381,565 1,928,561 Restricted cash (Note 3) 914,810 769,332 Receivables 2,187,464 1,946,584 Inventory for resale 123,789 147,970 Investments in government business enterprise (Note 5) 326,802 444,282 Mortgages receivable, net of unamortized discount (Note 18) 917,666 632,185 Long-term loan receivable 1,240 1,240 6,853,336 5,870,154 Liabilities Payables and accruals 1,546,121 1,481,393 Funding repayable (Note 19) 472,591 478,836 Due to related parties (Note 11) 44,125 44,234 Deferred contributions (Note 7) 576,408 1,243,436 Long term debt (Note 12) 1,328,572 879,790 Obligations under capital lease (Note 13) 654 2814 3,968,471 4,130,503 Net financial assets 2,884,865 1,739,651 Non-financial assets Prepaids and deposits 53,412 51,679 Tangible capital assets (Note 6) 3,918,837 3,984,577 3,972,249 4,036,256 Accumulated surplus (Note 14) 6,857,114 5,775,907
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
2. Analyze the
| Shawanaga First Nation | ||
| Consolidated Statement of Financial Position | ||
| 31-Mar | 2020 | 2019 |
| Financial assets | ||
| Cash and cash equivalents | 2,381,565 | 1,928,561 |
| Restricted cash (Note 3) | 914,810 | 769,332 |
| Receivables | 2,187,464 | 1,946,584 |
| Inventory for resale | 123,789 | 147,970 |
| Investments in government business enterprise (Note 5) | 326,802 | 444,282 |
| Mortgages receivable, net of unamortized discount (Note 18) | 917,666 | 632,185 |
| Long-term loan receivable | 1,240 | 1,240 |
| 6,853,336 | 5,870,154 | |
| Liabilities | ||
| Payables and accruals | 1,546,121 | 1,481,393 |
| Funding repayable (Note 19) | 472,591 | 478,836 |
| Due to related parties (Note 11) | 44,125 | 44,234 |
| Deferred contributions (Note 7) | 576,408 | 1,243,436 |
| Long term debt (Note 12) | 1,328,572 | 879,790 |
| Obligations under capital lease (Note 13) | 654 | 2814 |
| 3,968,471 | 4,130,503 | |
| Net financial assets | 2,884,865 | 1,739,651 |
| Non-financial assets | ||
| Prepaids and deposits | 53,412 | 51,679 |
| Tangible capital assets (Note 6) | 3,918,837 | 3,984,577 |
| 3,972,249 | 4,036,256 | |
| Accumulated surplus (Note 14) | 6,857,114 | 5,775,907 |
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