Please make the Statement of financial position
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please make the Statement of financial position
Transcribed Image Text:Below are the accounts of Celistina Trading for the year ended December 31, 2015.
Cash in Banco de Plata
Cash in Metro Pacific Bank
Petty Cash Fund
Change Cash Fund
Cash Equivalents
Accounts Receivables
Notes Receivables
Raw Materials
Work in Progress
Finished Goods
8,000,000
2,000,000
50,000
25,000
100,000
2,000,000
200,000
600,000
400,000
1,000,000
1,000,000
2,000,000
(200,000)
1,000,000
Land Used as Plant Site
Vehicles
Accumulated Depreciation- Vehicles
Fixtures
Transcribed Image Text:Accumulated Depreciation - Fixtures
Patents
Accumulated Depreciation- Patents
Trademarks
Accumulated Depreciation - Trademarks
Land held for Fair Value Appreciation
Accounts Payable
Notes Payable
Interest Payable
Income Tax Payable
Long - term Debt
Capital
(100,000)
1,000,000
(100,000)
1,000,000
(100,000)
10,000,000
2,000,000
1,000,000
100,000
900,000
5,000,000
20,875,000
Instructions: Prepare a statement of financial position and label its parts. After which, answer the following
questions.
How much is the total current assets of the entity?
How much is the total noncurrent assets of the entity?
How much is the total current liabilities of the entity?
How much is the total noncurrent liabilities of the entity?
How much is the total assets of the entity?
How much is the ratio of the current assets to the current liabilities?
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