Prepare the Statement of Financial Position as of 31 December 2019, for TT Resources Berhad. Account Payable Other Reserved Preferred Stock Mortgage Common Stock Tax Payable Long-Term Financing Bank Investment Securities Equipment Retained Earnings Bond Accumulated Depreciation Cash Notes Payable Prepayment Account Receivable Accrued Expenses

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
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Prepare the Statement of Financial Position as of 31 December 2019, for TT Resources Berhad.
Account
Payable
Other
Reserved
Preferred
Stock
Mortgage
Loan.
RM 51,000
RM50,000
RM 46,200
RM 44,000
Common
Stock
Tax Payable
Long-Term
Financing
Bank
RM 41,000
RM 25,500
RM 66,000
RM 42,000
Additional Information:
Investment
Securities
Equipment
Retained
Earnings
Bond
RM 5,000
RM 32,000
RM 90,000
RM 188,000
1. Land: RM 300,000
2. Inventories: RM40,000
3. Current Ratio: 1.5 Times
4. Cash & Banks = 35% of Currents Assets
5. Retained Earnings = 12% of Fixed Assets
Accumulated
Depreciation
Cash
RM30,000
Notes Payable Accrued
Expenses
RM 10,000
Prepayment
RM 23,500
Account
Receivable
RM 18,800
RM 62,000
RM 35,000
Transcribed Image Text:Prepare the Statement of Financial Position as of 31 December 2019, for TT Resources Berhad. Account Payable Other Reserved Preferred Stock Mortgage Loan. RM 51,000 RM50,000 RM 46,200 RM 44,000 Common Stock Tax Payable Long-Term Financing Bank RM 41,000 RM 25,500 RM 66,000 RM 42,000 Additional Information: Investment Securities Equipment Retained Earnings Bond RM 5,000 RM 32,000 RM 90,000 RM 188,000 1. Land: RM 300,000 2. Inventories: RM40,000 3. Current Ratio: 1.5 Times 4. Cash & Banks = 35% of Currents Assets 5. Retained Earnings = 12% of Fixed Assets Accumulated Depreciation Cash RM30,000 Notes Payable Accrued Expenses RM 10,000 Prepayment RM 23,500 Account Receivable RM 18,800 RM 62,000 RM 35,000
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