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can please provide a calculation for this left blanks. thanks Bridgeport Inc. follows ASPE and had the following statement of financial position at the end
can please provide a calculation for this left blanks. thanks
Bridgeport Inc. follows ASPE and had the following statement of financial position at the end of operations for 2022 : During 2023, the following occurred: 1. Bridgeport sold some of its trademarks. The trademarks had an unlimited useful life and a cost of $10,400. They were sold for proceeds of $20,000. 2. Machinery was purchased in exchange for long-term debt of $41,500. 3. Long-term debt in the amount of $14,800 was retired before maturity by paying $14,800 cash. 4. An additional $13,500 in common shares was issued. 5. Dividends totalling $13,800 were declared and paid to shareholders. Dividends paid are treated as financing activities. 6. Net income for 2023 was $46,200 after allowing for depreciation of $19,700. 7. Machinery with a carrying value of $10,900 was sold at a gain of $7,500. 8. At December 31,2023 , Cash was $69,900; Accounts Receivable was $111,800; Accounts Payable was $82,700, and Inventory increased to $107,800. Prepare the statement of financial position as it would appear at December 31, 2023. (List Assets in order of liquidity.) Trademarks Total Liabilities and Shareholders' Equity Accounts Payable Long-Term Debt Common Shares 117000 Retained Earnings Total $Step by Step Solution
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