Case F- France Trading Below are the cash transactions of France Trading for Decem- ber 31, 2015. Cash payment to suppliers of goods and services Cash receipts from rendering of services (25,000) 50,000 Payment to owners (5,000) Proceeds from bank loans 25,000 Proceeds from cash investment of owners 115,000 (12,000) Payment for income taxes Payment for interest (12,500) Proceeds fro dividends of investment 15,000 100,000 Payment for acquisition of equipment Cash at the beginning of the year 1,000,000

Case F- France Trading Below are the cash transactions of France Trading for Decem- ber 31, 2015. Cash payment to suppliers of goods and services Cash receipts from rendering of services (25,000) 50,000 Payment to owners (5,000) Proceeds from bank loans 25,000 Proceeds from cash investment of owners 115,000 (12,000) Payment for income taxes Payment for interest (12,500) Proceeds fro dividends of investment 15,000 100,000 Payment for acquisition of equipment Cash at the beginning of the year 1,000,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The working capital of BT21 Co. on December 31, 2021 are presented below:· Cash on hand – 200,000· Cash in bank – 108,000· Notes receivable – 250,000· Trade receivable – 600,000· Inventory – 650,000· Prepaid expenses – 45,000· Trade payables – 325,000· Notes payable (due annually at 500,000 payable every March 31) – 1,000,000· Accrued expenses – 40,000How much total current liabilities should BT21 Co. present in its statement of financial position on December 31, 2021?
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