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15-3 (Statement of Financial Position Adjustment and Preparation) The adjusted trial balance of Aslan-Pacific Company and other related information for the year 2015 are presented below (amounts in thousands) Credit 8,700 Land ASIAN-PACIFIC COMPANY ADJUSTED THAL BALANCE DECEMBER 31, 2015 Debat Cash 41,000 Accounts Receivable 163,500 Allowance for Doubtful Account Prepaid Insurance 5,900 Inventory 208,500 Long-term Investments 339.000 05.000 Construction in Procou 124.000 Patents 36,000 Equipment 400,000 Accumulated Depreciation - Equipment Accounts Payable Accrued Expenses Notes Payable Bonds Payable Share Capital-Ordinary Share Premium-Ordinary Rutined Eamingo V1.402,000 240,000 148.000 49,200 94,000 180,000 500,000 45,000 138,000 V1,402,000 ame Additional information 1. The average cost method of inventory value is used 2. The cost and fair value of the long-term investments that consist of ordinary shares and bonds is the 3. The amount of the Construction in Process account represents the costs expended to date on a building in the process of construction. The company rents factory space at the present time) The land on which the building is being constructed cost Y85,06), as shown in the trial balance 4. The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight- line basis 5. The notes pavabile represent bank loans that are secured by long-term investments carried at V120,000, These bank loans are due in 2016. 6. The bonds payable bear interest at 8% payable every December 31, and are due January 1, 2026. 7.620xX/ ordinary shares with a par value of 1 were authorized, of which 500,000 shares were issued and outstanding 15-3 (Statement of Financial Position Adjustment and Preparation) The adjusted trial balance of Aslan-Pacific Company and other related information for the year 2015 are presented below (amounts in thousands) Credit 8,700 Land ASIAN-PACIFIC COMPANY ADJUSTED THAL BALANCE DECEMBER 31, 2015 Debat Cash 41,000 Accounts Receivable 163,500 Allowance for Doubtful Account Prepaid Insurance 5,900 Inventory 208,500 Long-term Investments 339.000 05.000 Construction in Procou 124.000 Patents 36,000 Equipment 400,000 Accumulated Depreciation - Equipment Accounts Payable Accrued Expenses Notes Payable Bonds Payable Share Capital-Ordinary Share Premium-Ordinary Rutined Eamingo V1.402,000 240,000 148.000 49,200 94,000 180,000 500,000 45,000 138,000 V1,402,000 ame Additional information 1. The average cost method of inventory value is used 2. The cost and fair value of the long-term investments that consist of ordinary shares and bonds is the 3. The amount of the Construction in Process account represents the costs expended to date on a building in the process of construction. The company rents factory space at the present time) The land on which the building is being constructed cost Y85,06), as shown in the trial balance 4. The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight- line basis 5. The notes pavabile represent bank loans that are secured by long-term investments carried at V120,000, These bank loans are due in 2016. 6. The bonds payable bear interest at 8% payable every December 31, and are due January 1, 2026. 7.620xX/ ordinary shares with a par value of 1 were authorized, of which 500,000 shares were issued and outstanding
