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equity #8466
The following items are from the liability and shareholders equity
The following items are from the liability and shareholders' equity sections of Reitmans
(Canada) Limited's January 30, 2010, balance sheet (in thousands):
Mortgage payable...........................................11,431
Retained earnings..........................................480,622
Common shares..............................................31,052
Instructions
(a) Identify the balance sheet (statement of financial position) category in which each of the
above items should be classified.
(b) Prepare the liabilities and equity sections of the balance sheet.
(c) If you completed P2-3B, compare the total assets in P2-3B with the total liabilities and
shareholders' equity in P2-4B. Do these two amounts agree?
The following items are from the liability and shareholders equity
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