The trial balance of Bramble Ltd. at December 31, 2023, follows: Cash Sales revenue FV-NI Investments (at fair value) Cost of goods sold Bond investment at amortized cost FV-OCI investments (fair value $385,000) Notes payable (due in six months) Accounts payable Debits $265,000 203,000 6.300,000 429,000 315,000 Credits $9,922,000 114,000 775.000
The trial balance of Bramble Ltd. at December 31, 2023, follows: Cash Sales revenue FV-NI Investments (at fair value) Cost of goods sold Bond investment at amortized cost FV-OCI investments (fair value $385,000) Notes payable (due in six months) Accounts payable Debits $265,000 203,000 6.300,000 429,000 315,000 Credits $9,922,000 114,000 775.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The trial balance of Bramble Ltd. at December 31, 2023, follows:
Cash
Sales revenue
FV-NI investments (at fair value)
Cost of goods sold
Bond investment at amortized cost
FV-OCI investments (fair value $385,000)
Notes payable (due in six months)
Accounts payable
Selling expenses
Investment income or loss
Land
Buildings
Dividends payable
Income tax payable
Accounts receivable
Accumulated depreciation-buildings
Allowance for expected credit losses
Administrative expenses
Interest expense
Inventory
Gain on disposal of land
Dividends
Notes payable (due in five years)
Equipment
Bonds payable (due in three years)
Accumulated depreciation-equipment
Intangible assets-franchises (net)
Common shares
Intangible assets-patents (net)
Retained earnings (opening)
Accumulated other comprehensive income (opening)
Totals
Debits
$265,000
203,000
6,300,000
429,000
315,000
1,960,000
310,000
2,340,000
635,000
1,020,000
371,000
877,000
40,000
700,000
340,000
245,000
$16,350,000
Credits
$9,922,000
114,000
775.000
11,000
56,000
112,000
252,000
28,000
50,000
1.020,000
1,800,000
69,000
819,000
1,222,000
100,000
$16,350,000
Transcribed Image Text:The investment income or loss relates to the FV-NI investments.
(a)
Prepare a classified statement of financial position as at December 31, 2023. Ignore income taxes. (List Current Assets in order of
liquidity List Property, Plant, and Equipment in order of Land, Buildings, and Equipment.)
Bramble Ltd.
nt of Financial Position
Statement of
Assets
Liabilities and Shareholders' Equity
$
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