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Hi I did half of it correct and i need help with the remaining .. thanks ... The comparative statement of financial position for Blossom
Hi
I did half of it correct and i need help with the remaining .. thanks ...
The comparative statement of financial position for Blossom Retailers Ltd. follows: BLOSSOM RETAILERS LTD. Statement of Financial Position December 31 210,000 165,000 130,000 160,000 Assets Accounts receivable Invent00/ Furniture Accumulated depreciation Tota assets Liabilities and Shareholders' Equity Sank werdraft Accounts payable Sank loan payable (noncurrent) Common shares Retained earnings Total liabilities and shareholders' equity Additional information: Net income was $30,000 in 2018. 2018 70,000 (31,000) $379,000 9,000 62,000 90,000 47,000 171,000 $379,000 2017 $ 15,000 47,000 (42,000) $345,000 42,000 100,000 57,000 146,000 $345,000 4. 6. Depreciation expense was $15,000 in 2018. In 2018, no new bank loans were received. In 2018, no furniture was purchased, but some furniture was sold for $6,000, which resulted in a gain on this disposal of $2,000. No common shares were issued during the year but some were reacquired at the cost at which they were originally issued. In 2018, dividends were declared and paid.
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