Scalp Handout 035

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 Bonds payable Cash and cash equivalents Current income tax payable Intangible assets, net Investment in associate Investment in equity securities Investment property Long-term notes payable Merchandise inventory Office and store supplies Other noncurrent assets Other noncurrent liabilities Owner's Equity Prepayments and other current assets Property, plant, and equipment, net Short-term notes payable Trade and other payables Trade and other receivables

125,890 5,000,000 2,500,000 589,660 2,654,700 1,890,600 3,650,400 1,968,740 2,000,000 2,789,000 400,000 600,000 750,000 18,211,250 385,000 9,856,250 320,000 1,562,890 1,865,000

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