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Question 4 of 5 -11 View Policies Current Attempt in Progress Blue Spruce Corp. has decided to expand its operations. The bookkeeper recently completed the
Question 4 of 5 -11 View Policies Current Attempt in Progress Blue Spruce Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial position in order to obtain additional funds for expansion: $ 280,000 BLUE SPRUCE CORP Statement of Financial Position For the Year Ended December 31, 2020 Current assets Cash (net of bank overdraft of $38,000) Accounts receivable (net) Inventory at the lower of cost and net realizable value FV-Nl investments (at cost-fair value $190.000) Property, plant, and equipment Buildings (net) 382,000 431.000 150,000 600,000 Equipment (net) 170,000 Land held for future use 255,000 Intangible assets Goodwill 94.000 Intangible assets Goodwill Investment in bonds to collect cash flows, at amortized cost Prepaid expenses 94,000 108.000 23.000 Current liabilities 395,000 145.000 Accounts payable Notes payable (due next year) Pension obligation Rent payable Long-term liabilities 97.000 54.000 18.000 Bonds payable Shareholders equity Common shares.unlimited authorired. 450.000 Contributed Surplus Denders 450 000 330.000 Com Question 4 of 5 -/1 la) Prepare a revised statement of financial position using the available information. Assume that the bank overdratt relates to a bank account held at a different bank from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $190,000 and that the accumulated depreciation balance for the equipment is $275.000 The allowance for doubtful accounts has a balance of $19.000. The pension obligation is considered a lone term ability (List Current Assets in order of liquidity List Property Plant and Equipment in order of land, Buildings and Equipment) BLUE SPRUCE Corp. Statement of Financial Position Assets $
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