Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Complete the following two forms These items are taken from the financial statements of Ayayai Corp. at December 31, 2018. Buildings $79,350 Accounts receivable 9,450

image text in transcribed

Complete the following two formsimage text in transcribedimage text in transcribed

image text in transcribedimage text in transcribed

These items are taken from the financial statements of Ayayai Corp. at December 31, 2018. Buildings $79,350 Accounts receivable 9,450 Prepaid insurance 3,510 Cash 8,880 Equipment 61,800 Land 45,900 Office expense 435 Income tax expense 150 Depreciation expense 3,975 Interest expense 1,950 46,500 Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable 30,000 34,200 6,300 Income taxes payable 825 Bank loan payable (due July 1, 2020) 70,200 Accumulated depreciation equipment 14,040 Interest payable 2,700 Sales 10,635 Prepare a classified statement of financial position. Assume that $10,200 of the bank loan payable will be paid in 2019. List Property, plant and equipment in order of land buildings and equipment List Current Assets in order of liquidity.) AYAYAI CORP Statement of Financial Position For the Year Ended December 31, 2018 Assets $ $ EA $ Lishilities and Shareholders' Fouity Liabilities and Shareholders' Equity $ $ $ $ AYAYAI CORP Statement of Financial Position For the Year Ended December 31, 2018 7 Assets Current Assets Current Liabilities Non-Current Liabilities Property, Plant, and Equipment Shareholders' Equity Total Assets Total Current Assets Total Current Liabilities Total Liabilities Total Liabilities and Shareholders' Equity Total Property, Plant, and Equipment Total Shareholders' Equity $ $ $ AYAYAI CORP Statement of Financial Position For the Year Ended December 31, 2018 Assets $ Add Less 7 $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The AICPA Audit Committee Toolkit Private Companies

Authors: AICPA

2nd Edition

1940235464, 978-1940235462

More Books

Students also viewed these Accounting questions