Quiz 2 B/S EMBA 2023 Roll No.

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Prepare a statement of financial position for the ABC Company as of December 31, 2019. All accounts
have normal balances.

Non Current Assets

Land 157,320

Equipment ¥ 40,000

Buildings 80,400

Accumulated Depr. - Buildings (15,000)

Accumulated Depreciation - Equip. (10,000) 252,720

Current Assets

Inventory 102,000

Prepaid Advertising 5,000 107,000

Non Current Liabilities

Bonds Payable 78,000

Current Liabilities

Interest Payable 600

Notes Payable (due in 6 months) 24,400

Taxes Payable 3,000

Salaries and Wages Payable 900 28,900

Equity

Retained Earnings 142,420

Dividends 50,400

Share Capital–Ordinary 60,000

Quiz 2 B/S EMBA 2023 Roll No.___

Assets = Liabilities + Equity

359,720 = 106900 + x+110,400

X = 142,420