Ayayai Inc. had the following statement of financial position at the end of operations for 2022: Ayayai Inc. Statement of Financial Position December 31, 2022 Cash $25,140 Accounts receivable 26,340 FV-Nl investments 32,000 Equipment (net) 86,140 Land (a) 45,140 $214,760 Accounts payable Bonds payable Common shares Retained earnings $35,140 46,140 105,140 28,340 $214,760 During 2023, the following occurred: 1. Ayayai liquidated its FV-NI investments portfolio at a loss of $10,140. 2. A parcel of land was purchased for $43,140. 3. An additional $30,000 worth of common shares was issued. 4. Dividends totalling $15,140 were declared and paid to shareholders. 5. Net income for 2023 was $40,140, including $17,140 in depreciation expense. 6. Land was purchased through the issuance of $35,140 in additional bonds. 7. At December 31, 2023, Cash was $75,340; Accounts Receivable was $47,140; and Accounts Payable was $45,140. Prepare the statement of financial position as it would appear at December 31, 2023. (List Assets in order of liquidity.)
Ayayai Inc. had the following statement of financial position at the end of operations for 2022: Ayayai Inc. Statement of Financial Position December 31, 2022 Cash $25,140 Accounts receivable 26,340 FV-Nl investments 32,000 Equipment (net) 86,140 Land (a) 45,140 $214,760 Accounts payable Bonds payable Common shares Retained earnings $35,140 46,140 105,140 28,340 $214,760 During 2023, the following occurred: 1. Ayayai liquidated its FV-NI investments portfolio at a loss of $10,140. 2. A parcel of land was purchased for $43,140. 3. An additional $30,000 worth of common shares was issued. 4. Dividends totalling $15,140 were declared and paid to shareholders. 5. Net income for 2023 was $40,140, including $17,140 in depreciation expense. 6. Land was purchased through the issuance of $35,140 in additional bonds. 7. At December 31, 2023, Cash was $75,340; Accounts Receivable was $47,140; and Accounts Payable was $45,140. Prepare the statement of financial position as it would appear at December 31, 2023. (List Assets in order of liquidity.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Ayayai Inc. had the following statement of financial position at the end of operations for 2022:
Ayayai Inc.
Statement of Financial Position
December 31, 2022
Cash
$25,140
Accounts receivable 26,340
FV-Nl investments
32,000
Equipment (net)
86,140
Land
(a)
45,140
$214,760
Accounts payable
Bonds payable
Common shares
Retained earnings
$35,140
46,140
105,140
28,340
$214,760
During 2023, the following occurred:
1. Ayayai liquidated its FV-NI investments portfolio at a loss of $10,140.
2. A parcel of land was purchased for $43,140.
3. An additional $30,000 worth of common shares was issued.
4. Dividends totalling $15,140 were declared and paid to shareholders.
5. Net income for 2023 was $40,140, including $17,140 in depreciation expense.
6. Land was purchased through the issuance of $35,140 in additional bonds.
7. At December 31, 2023, Cash was $75,340; Accounts Receivable was $47,140; and Accounts Payable was $45,140.
Prepare the statement of financial position as it would appear at December 31, 2023. (List Assets in order of liquidity.)
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