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A list of financial statement items for Shum Corporation includes the following: accounts receivable $14,500; cash $16,400; inventory $9,000; supplies $4,200; prepaid insurance $3,900; accumulated
A list of financial statement items for Shum Corporation includes the following: accounts receivable $14,500; cash $16,400; inventory $9,000; supplies $4,200; prepaid insurance $3,900; accumulated depreciation-buildings $33,000; accumulated depreciation-equipment $25,000; buildings $110,000; equipment $70,000; and land $65,000. Prepare the assets section of the statement of financial position. (List Current Assets in order of liquidity List Property Plant, and Equipment in order of Land, Bulldings and Equipment.) !! Statement of Financial Position (Partial) Assets Current Assets Cash Accounts Receivable Inventory Supplies Prepaid Insurance Total Current Assets * Property. Plant and Equipment Equipment Land $ Less : Accumulated Depreciation - Equipment Equipment $ Less : Accumulated Depreciation - Buildings Total Property, Plant and Equipment Total Current Assets
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