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    SCALP Handout 035

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    Severus S Potter
    This document provides financial information to prepare a statement of financial position for Graduation Company as of December 31, 20X1. It lists the company's assets, liabilities, and owner's equity, including cash, inventory, property and equipment, various investments, notes and bonds payable, income tax payable, and other current liabilities. The statement of financial position will be prepared in both report and account form using this financial data.

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    SCALP Handout 035

    Uploaded by

    Severus S Potter
    429 views1 page
    This document provides financial information to prepare a statement of financial position for Graduation Company as of December 31, 20X1. It lists the company's assets, liabilities, and owner's equity, including cash, inventory, property and equipment, various investments, notes and bonds payable, income tax payable, and other current liabilities. The statement of financial position will be prepared in both report and account form using this financial data.

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    This document provides financial information to prepare a statement of financial position for Graduation Company as of December 31, 20X1. It lists the company's assets, liabilities, and owner's equity, including cash, inventory, property and equipment, various investments, notes and bonds payable, income tax payable, and other current liabilities. The statement of financial position will be prepared in both report and account form using this financial data.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    429 views1 page

    SCALP Handout 035

    Uploaded by

    Severus S Potter
    This document provides financial information to prepare a statement of financial position for Graduation Company as of December 31, 20X1. It lists the company's assets, liabilities, and owner's equity, including cash, inventory, property and equipment, various investments, notes and bonds payable, income tax payable, and other current liabilities. The statement of financial position will be prepared in both report and account form using this financial data.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    This is

    Handout 035 SHS Statement of Financial Position

    Please use this handout for


    Lesson 035 Constructive Accounting for Senior High School 1:
    Statement of Financial Position

    Using the following information, prepare a properly classified Statement of Financial Position
    for Graduation Company as at December 31, 20X1 under:
    a. Report form
    b. Account form

    Accruals and other current liabilities 125,890


    Bonds payable 5,000,000
    Cash and cash equivalents 2,500,000
    Current income tax payable 589,660
    Intangible assets, net 2,654,700
    Investment in associate 1,890,600
    Investment in equity securities 3,650,400
    Investment property 1,968,740
    Long-term notes payable 2,000,000
    Merchandise inventory 2,789,000
    Office and store supplies 400,000
    Other noncurrent assets 600,000
    Other noncurrent liabilities 750,000
    Owner's Equity 18,211,250
    Prepayments and other current assets 385,000
    Property, plant, and equipment, net 9,856,250
    Short-term notes payable 320,000
    Trade and other payables 1,562,890
    Trade and other receivables 1,865,000

    Page 1 of 1

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