EVENING COMPANY

Trial Balance
December 31, 20X1
Debit
Cash on hand 120,000
Cash in bank 980,000
Account receivable 2,000,000
Allowance for doubtful accounts
Advances to employees 40,000
Advances to officers (due in 20x3) 130,000
Advances to affiliates (no agreed due date) 670,000
Inventories 200,000
Dairy cattle (used to produce milk) 1,200,000
Advances to suppliers 30,000
Fair value of plan assets 1,000,000
Land (held for long term capital appreciation) 900,000
Land (office building site) 1,200,000
Building 4,800,000
Accumulated depreciation - Bldg.
Patent 440,000
Accumulated amortization- Pantent
Web site costs 250,000
Accumulated amortization-Web site
Accounts payable
Utility payable
Loans payable (short-term bank loan)
Discount on loan payable 740,000
Provision for probable loss on lawsuit
Deposit liability for returnable containers (short-term)
Present value of defined benefit obligation
Ordinary share capital
Share premium
Share premium- Share warrants outstanding
Share premium- Treasury shares
Retained earnings
Reserves for contingencies
Translation gain on foreign operation
Treasury shares 100,000
Total 14,800,000

EVENING COMPANY
Statement of Financial Position
December 31, 20X1
ASSETS
Current assets: Notes
 Cash and cash equivalents 6 1,100,000
Trade and other receivables 7 1,770,000
Inventories 200,000
Total current assets 3,070,000

Non-current assets
Biological assets 1,200,000
Investment property 900,000
Property, plant and equipment 8 4,400,000
Intangible assets 9 560,000
Other noncurrent assets 10 800,000
Total non-current assets 7,860,000
Total Assets 10,930,000

LIABILITIES AND EQUITY

Current liabilities:
Trade and other payables 11 920,000
Loan payable- net 12 1,760,000
Provision for probable loss on lawsuit 430,000
Total current liabilities 3,110,000

Non-current liabilities:
Net defined benefit liability 13 1,700,000
Total non-current liabilities 1,700,000
Total liabilities 4,810,000

Shareholders' equity:
Ordinary share capital 4,000,000
Share premium 14 970,000
Retained earnings 15 1,220,000
Other components of equity 30,000
Treasury shares (100,000)
Total shareholders' equity 6,120,000
Total Liabilities and Shareholders' equity 10,930,000

Note 6: Cash and cash equivalents

Cash on hand
Cash in bank
Total
Note 7: Trade and other receivables
Account receivable 2,000,000
Allowance for doubtful accounts (300,000)
Advances to employees
Advances to suppliers
Total

Note 8: Property, plant and equipment

Land
Building 4,800,000
Accumulated depreciation - Bldg. (1,600,000)
Total

Note 9: Intangible assets

Patent 440,000
Accumulated amortization- Patent (80,000)
Web site costs 250,000
Accumulated amortization- Web site (50,000)
Total

Note 10: Other noncurrent assets

Advances to officers
Advances to affiliates
Total

Note 11: Trade and other payables

Accounts payable
Utility payable
Deposit liability for returnable containers
Total

Note 12: Loans payable- net

Loan payable
Discount on loan payable
Total

Note 13: Net defined benefit liability

Present value of defined benefit obligation
Fair value of plan assets
Total

Note 14: Share premium

Share premium
Share premium- Share warrants outstanding
 Share premium- Treasury shares
Total

Note 15: Retained earnings

Retained earrings
Reserves for contingencies
Total
Credit

300,000

1,600,000

80,000

50,000
720,000
80,000
2,500,000

430,000
120,000
2,700,000
4,000,000
600,000
300,000
70,000
1,030,000
190,000
30,000

14,800,000
 120,000
980,000
1,100,000
1,700,000
40,000
30,000
1,770,000

1,200,000

3,200,000
4,400,000

360,000

200,000
560,000

130,000
670,000
800,000

720,000
80,000
120,000
920,000

2,500,000
(740,000)
1,760,000

2,700,000
(1,000,000)
1,700,000

600,000
300,000
 70,000
970,000

1,030,000
190,000
1,220,000