The following additional information is provided:1. Cash includes the cash surrender value of a life insurance policy of £12,400, and a bank overdraft (part of management policy to control cash) of £2,500 has been deducted.2. The net accounts receivable balance includes:(a) accounts receivable-debit balances £60,000;(b) accounts receivable-credit balances £4,000;(c) allowance for doubtful accounts £3,800.3. Inventories do not include goods costing £5,000 shipped out on consignment. Receivables of £5,000 were recorded on these goods.4. Investments include investments in ordinary shares, trading £19,000 and non-trading £48,300, and franchises £9,000.5. Equipment costing £10,000 with accumulated depreciation of £5,000 is no longer used and is held for sale. Accumulated depreciation on the other equipment is £45,000.Required: after preparing a statement of financial position in good form answer the following question:what is the cost of equipment to be reported at the statement of financial position 31/12/2021 at the property, plant, and equipment section? The following statement of financial position was prepared by the bookkeeper for Rima Company as of December 31, 2021.Rima CompanyStatement of Financial Positionas of December 31, 2021Investments£ 50,100Equity£????Equipment (net)56,000Non-current liabilities100,000Patents32,000Accounts payable78,000Inventories30,000Accounts receivable (net)52,200Cash180,000The following additional information is provided:1Cash includes the cash surrender value of a life insurance policy of £12,400, and a bank overdraft (part of management policy to2. The net accounts receivable balance includes:

The statement of financial position is prepared at the end of an accounting period. This statement…

The following statement of financial position was prepared by the bookkeeper for Rima Company as of December 31, 2021. Rima Company Statement of Financial Position as of December 31, 2021 Investments £ 50,100 Equity £???? Equipment (net) 56,000 Non-current liabilities 100,000 Patents 32,000 Accounts payable 78,000 Inventories 30,000 Accounts receivable (net) 52,200 Cash 180,000 The following additional information is provided: Cash includes the cash surrender value of a life insurance policy of £12,400, and a bank overdraft (part of management policy 2. The net accounts receivable balance includes:

The following statement of financial position was prepared by the bookkeeper for Rima Company as of December 31, 2021. Rima Company Statement of Financial Position as of December 31, 2021 Investments £ 50,100 Equity £???? Equipment (net) 56,000 Non-current liabilities 100,000 Patents 32,000 Accounts payable 78,000 Inventories 30,000 Accounts receivable (net) 52,200 Cash 180,000 The following additional information is provided: Cash includes the cash surrender value of a life insurance policy of £12,400, and a bank overdraft (part of management policy 2. The net accounts receivable balance includes:

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...

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Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown in random order as follows: Required: 1. Prepare a December 31, 2019, balance sheet for Baggett. 2. Compute the debt to-assets ratio.
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Maguindanao Computer, Inc., reports the following statement of financial position amounts as of December 31, 2020             Current asset                                      P 2,440,500             Noncurrent assets                                 6,285,500             Current liabilities                                    1,386,000             Noncurrent liabilities                                 900,000             Owner’s equity                                       6,440,000 A review of account balances reveals the following data An analysis of current assets discloses the following: Cash P   422,500 Investment securities-trading 600,000 Trade accounts receivable 568,000 Inventories, including advertising supplies of P20,000 850,000 2,440,500 2. Noncurrent assets include the following: Property, plant and equipment:         Depreciated book value (cost P 6,560,000) 5,490,000 Deposit with a supplier for…
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