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  • INTACC 3 Dilemma Company (Financial Position)

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    Ian Santos
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    Dilemma Company's statement of financial position as of December 31, 2019 shows total assets of $10,000,000 including cash, accounts receivable, inventory, financial assets, land, buildings, and equipment. Total liabilities are $3,300,000 consisting of accounts payable, accrued expenses, notes payable, and bonds payable. Shareholders' equity totals $7,150,000 made up of share capital, retained earnings, and appropriated retained earnings.

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    Dilemma Company's statement of financial position as of December 31, 2019 shows total assets of $10,000,000 including cash, accounts receivable, inventory, financial assets, land, buildings, and equipment. Total liabilities are $3,300,000 consisting of accounts payable, accrued expenses, notes payable, and bonds payable. Shareholders' equity totals $7,150,000 made up of share capital, retained earnings, and appropriated retained earnings.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    67 views1 page

    INTACC 3 Dilemma Company (Financial Position)

    Uploaded by

    Ian Santos
    Dilemma Company's statement of financial position as of December 31, 2019 shows total assets of $10,000,000 including cash, accounts receivable, inventory, financial assets, land, buildings, and equipment. Total liabilities are $3,300,000 consisting of accounts payable, accrued expenses, notes payable, and bonds payable. Shareholders' equity totals $7,150,000 made up of share capital, retained earnings, and appropriated retained earnings.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Dilemma Company

    Statement of Financial Position


    December 31, 2019

    Assets:
    Cash 800,000
    Accounts Receivable 750,000
    Allowance for Doubtful Accounts 50,000
    Prepaid Expense 160,000
    Inventory 1,000,000
    Financial Asset at fair value 690,000
    Land 500,000
    Building in Process 5,000,000
    Patent 200,000
    Machinery and Equipment 1,500,000
    Accumulated Depreciation 300,000
    Discounts on bonds payable 200,000
    Liabilities:
    Accounts Payable 900,000
    Accrued Expense 150,000
    Note Payable due July 2021 250,000
    Bonds Payable 2,000,000
    Share Capital 3,000,000
    Retained Earnings 4,000,000
    Retained Earnings appropriated for contingencies 150,000

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