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Prepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is €172,000 and for the equipment, €117,000. The allowance for doubtful accounts has a balance of €29,000. The pension liability is considered a non-current liability. (List Current Assets in reverse order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)

Prepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is €172,000 and for the equipment, €117,000. The allowance for doubtful accounts has a balance of €29,000. The pension liability is considered a non-current liability. (List Current Assets in reverse order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)

FINANCIAL ACCOUNTING
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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PREPARE A REVISED STATEMENT OF FINANCIAL POSITION GIVEN THE AVAILABLE INFORMATION. ASSUME THAT THE ACCUMULATED DEPRECIATION BALANCE FOR THE BUILDINGS IS 172000 AND FOR THE EQUIPMENT, 117000. THE ALLOWANCE FOR DOUBTFUL ACCOUNTS HAS A BALANCE OF 29000. THE PENSION LIABILITY IS CONSIDERED A NON-CURRENT LIABILITY. (LIST CURRENT ASSETS IN REVERSE ORDER OF LIQUIDITY. LIST PROPERTY, PLANT, AND EQUIPMENT IN ORDER OF BUILDINGS AND EQUIPMENT. ENTER ACCOUNT NAME ONLY AND DO NOT PROVIDE THE DESCRIPTIVE INFORMATION PROVIDED IN THE QUESTION.)   

Current liabilities Accounts payable Notes payable (due next year) Pension liability Rent payable Premium on bonds payable Non-current liabilities Bonds payable Equity Share capital-ordinary, €1.00 par, authorized 400,000 shares, issued 302,000 Share premium-ordinary Retained earnings 147,000 137,000 94,000 61,000 65,000 512,000 302,000 172,000 ? Prepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is €172,000 and for the equipment, €117,000. The allowance for doubtful accounts has a balance of €29,000. The pension liability is considered a non-current liability. (List Current Assets in reverse order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)
Transcribed Image Text:Current liabilities Accounts payable Notes payable (due next year) Pension liability Rent payable Premium on bonds payable Non-current liabilities Bonds payable Equity Share capital-ordinary, €1.00 par, authorized 400,000 shares, issued 302,000 Share premium-ordinary Retained earnings 147,000 137,000 94,000 61,000 65,000 512,000 302,000 172,000 ? Prepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is €172,000 and for the equipment, €117,000. The allowance for doubtful accounts has a balance of €29,000. The pension liability is considered a non-current liability. (List Current Assets in reverse order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.)
Nash SpA has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion. Current assets Cash Accounts receivable (net) Inventory (at lower-of-average-cost-or-net realizable value) Trading securities-at cost (fair value €132,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Other identifiable assets Nash SpA Statement of Financial Position December 31, 2022 Prepaid expenses €242,000 352,000 413,000 152,000 582,000 172,000 187,000 92,000 102,000 24,000
Transcribed Image Text:Nash SpA has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion. Current assets Cash Accounts receivable (net) Inventory (at lower-of-average-cost-or-net realizable value) Trading securities-at cost (fair value €132,000) Property, plant, and equipment Buildings (net) Equipment (net) Land held for future use Intangible assets Goodwill Other identifiable assets Nash SpA Statement of Financial Position December 31, 2022 Prepaid expenses €242,000 352,000 413,000 152,000 582,000 172,000 187,000 92,000 102,000 24,000
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