Question 4 of 4 The statement of financial position of Swilty Corporation as at December 31, 2020, is as follow SWIFTY CORPORATION Statement of Financial Position December 31, 2020 Assets Goodwill (Note 1) $105.000 Building Note 2) 2460.000 Inventory 468.150 Investments-trading Note 3 150.000 Land 1425.000 Accounts receivable Investments in shares (VOC) (Note 4) Cash Assets allocated to trustee for plant expansion Cash Treasury notes at cost and fair value 255.000 130.500 263.850 180.000 207,000 $5.644.500 -/30 ! Ave Ma Assignment 3-2% My Question 4 of 4 Equities Notes payable (Note 4) Common shares, unlimited authorized 500.000 d Retained earnings Accounts payable Appreciation capital (Note 2) Income tax payable Reserve for depreciation of building 15844500 $900.000 1.725,000 1059.000 378.000 855,000 112.500 615.000 $5.644500 -/30 E 1 Question 4 of 4 -/30 i I OFA $5.644,500 Note Goodwill in the amount of $105.000 was recopied because the company believed that the carrying out of onsets wa 1 not an accurate representation of the company's fair value The gain of $105.000 was credited to Retained Earnings Note 2 Buildings are stated at cost, except for one building that was recorded at its appraised value as management determined the building to be worth more than originally paid at acquisition The excess of t raisal valut over cost was $15,000 Depreciation has been recorded based on cost Note Investments-trading are FV Nair value through net inc) ivestments and have a fair value of $112.500 Investments 2 in shares (TV-OC have a fair value of $300.000 noth investments are currently recorded at cost. Note Notes payable are long term except for the current principal instant due of $150,000 4 (a) Prepare a corrected classified statement of financial position in good form. The notes above are for indomation only Assume that you have decided not to use the revaluation model for property plant and equipment Bit Current Assets in order of liquidity List Property Plant and Equipment in order of Land Buildings and Equipment SWIFTY CORPORATION Statement of Financial Position 112030 Assets Question 4 of 4 The statement of financial position of Swilty Corporation as at December 31, 2020, is as follow SWIFTY CORPORATION Statement of Financial Position December 31, 2020 Assets Goodwill (Note 1) $105.000 Building Note 2) 2460.000 Inventory 468.150 Investments-trading Note 3 150.000 Land 1425.000 Accounts receivable Investments in shares (VOC) (Note 4) Cash Assets allocated to trustee for plant expansion Cash Treasury notes at cost and fair value 255.000 130.500 263.850 180.000 207,000 $5.644.500 -/30 ! Ave Ma Assignment 3-2% My Question 4 of 4 Equities Notes payable (Note 4) Common shares, unlimited authorized 500.000 d Retained earnings Accounts payable Appreciation capital (Note 2) Income tax payable Reserve for depreciation of building 15844500 $900.000 1.725,000 1059.000 378.000 855,000 112.500 615.000 $5.644500 -/30 E 1 Question 4 of 4 -/30 i I OFA $5.644,500 Note Goodwill in the amount of $105.000 was recopied because the company believed that the carrying out of onsets wa 1 not an accurate representation of the company's fair value The gain of $105.000 was credited to Retained Earnings Note 2 Buildings are stated at cost, except for one building that was recorded at its appraised value as management determined the building to be worth more than originally paid at acquisition The excess of t raisal valut over cost was $15,000 Depreciation has been recorded based on cost Note Investments-trading are FV Nair value through net inc) ivestments and have a fair value of $112.500 Investments 2 in shares (TV-OC have a fair value of $300.000 noth investments are currently recorded at cost. Note Notes payable are long term except for the current principal instant due of $150,000 4 (a) Prepare a corrected classified statement of financial position in good form. The notes above are for indomation only Assume that you have decided not to use the revaluation model for property plant and equipment Bit Current Assets in order of liquidity List Property Plant and Equipment in order of Land Buildings and Equipment SWIFTY CORPORATION Statement of Financial Position 112030 Assets