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ASIAN-PACIFIC COMPANY ADJUSTED TRIAL BALANCE DECEMBER 31, 2015 Credit Debit V 41,000 163,500 V 8,700 3 P5-3 (Statement of Financial Position Adjustment and Preparation) The adjusted trial balance of Asian-Pacific Company and other related information for the year 2015 are presented below (amounts in Prepare a statement of financial position as of December 31, 2015, so that all important information is fully thousands) same disclosed Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Inventory Long-term Investments Land Construction in Process Patents Equipment Accumulated Depreciation-Equipment Accounts Payable Accrued Expenses Notes Payable Bonds Payable Share Capital - Ordinary Share Premium-Ordinary Retained Earnings 5,900 208,500 339,000 85,000 124,000 36,000 400,000 240,000 148,000 49.200 94,000 180,000 500,000 45.000 138,000 V1.402 900 V1.402.900 Jadditional i 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 $5,000, 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. 6. The notes payable represent bank loans that are secured by long-term investments carried at Y120,000 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. 600,000 ordinary shares with a par value of I were authorized, of which 500,000 shares were issued and outstanding Instructions ri