Question
) Express the December 31, 2019 balance sheet for Hamad Company in common-size percentages. Hamad Company (GAAP) Balance Sheet (IFRS Statement of Financial Position) December
) Express the December 31, 2019 balance sheet for Hamad Company in common-size percentages.
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| Hamad Company (GAAP) Balance Sheet (IFRS Statement of Financial Position) December 31, 2019 | |
|
|
| |
| Assets | 2019 |
|
| Cash | 43,000 |
|
| Accounts receivable | 38,000 |
|
| Inventory | 61,000 |
|
| Prepaid insurance | 6,000 |
|
| Long term investments | 49,000 |
|
| Plant Assets (PPE or Long term assets) | 218,000 |
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| Total assets | 415,000 |
|
|
| ||
| Liabilities and equity |
| |
| Current liabilities | 62,000 |
|
| Long term liabilities | 45,000 |
|
| Common stock | 150,000 |
|
| Retained earnings | 158,000 |
|
| Total Liabilities and equity | 415,000 |
|
Answer
Hamad Company
(GAAP) Balance Sheet
(IFRS Statement of Financial Position)
December 31,
| Assets | 2019 | Common Size |
| Cash | 43,000 |
|
| Accounts receivable | 38,000 |
|
| Inventory | 61,000 |
|
| Prepaid insurance | 6,000 |
|
| Long term investments | 49,000 |
|
| Plant Assets (PPE or Long term assets) | 218,000 |
|
| Total assets | 415,000 |
|
|
| ||
| Liabilities and equity |
| |
| Current liabilities | 62,000 |
|
| Long term liabilities | 45,000 |
|
| Common stock | 150,000 |
|
| Retained earnings | 158,000 |
|
| Total Liabilities and equity | 415,000 |
|
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Loose Leaf For Financial Accounting Fundamentals
Authors: John Wild, Ken Shaw, Barbara Chiappetta
6th Edition
1260151980, 978-1260151985
