I have received more than half the credit for this practice question. I get confused with labeling where the numbers go and how to get the totals. I noticed the retained earnings is not given, How is that found? Everything in green is correct, and red is incorrect, the boxes that are blank have not been answered. I would appreciate it if the red and blank boxes were answered with an explanation. Thanks.
Bramble SpA has decided to expand its operations. The bookkeeper recently completed the following statement of nancial position in order to obtain additional funds for expansion. Bramble SpA Statement of Financial Position December 31, 2022 Current assets Cash 234,500 Accounts receivable (net) 344,500 Inventory (at lower-of-average-cost-or-net realizable value) 405,500 Trading securitiesat cost (fair value 124,500) 144,500 Property, plant, and equipment Buildings (net) 574,500 Equipment (net) 164,500 Land held for future use 179,500 Intangible assets Goodwill 84,500 Other identiable assets 94,500 Prepaid expenses 16,500 Current liabilities Accounts payable 139,500 Notes payable (due next year) 129,500 Pension liability 86,500 Rent payable 53,500 Premium on bonds payable 57,500 Non-current liabilities Bonds payable 504,500 Equy Share capitalordinary, 1.00 par, authorized 400,000 shares, issued 294,500 294,500 Share premiumordinary 164,500 Retained earnings ? Prepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is E164,500 and for the equipment, E109,500. The allowance for doubtful accounts has a balance of E21,500. The pension liability is considered a non-current liability. (List Current Assets in reverse order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) BRAMBLE SPA Statement of Financial Position December 31, 2022 Assets Non-current Assets v Long-term Investments Land Property, Plant and Equipment v Buildings 574500 Less Accumulated Depreciation-Buildings Equipment Less Accumulated Depreciation-Equipment Total Property, Plant and Equipment Intangible Assets Goodwill Other Identifiable Assets V Total Non-current Assets V Current Assets V Inventory Cash Accounts Receivable 344500 Less Allowance for Doubtful Accounts 21500 Trading Securities Total Current Assets Total AssetsPrepare a revised statement of financial position given the available information. Assume that the accumulated depreciation balance for the buildings is E164,500 and for the equipment, E109,500. The allowance for doubtful accounts has a balance of E21,500. The pension liability is considered a non-current liability. (List Current Assets in reverse order of liquidity. List Property, Plant and Equipment in order of Buildings and Equipment. Enter account name only and do not provide the descriptive information provided in the question.) BRAMBLE SPA Statement of Financial Position December 31, 2022 Assets E 574500 ent 84500 945005 405500 234500 344500 21500 iEquity and Liabilities Equity v Share Capital-Ordinary 294500 Share Premium-Ordinary 164500 Retained Earnings Total Equity Non-current Liabilities V Bonds Payable 504500 Pension Liability 86500 Total Non-current Liabilities V Current Liabilities
