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Question 7 of 9 View Policies Current Attempt in Progress The trial balance of Ayayai Ltd. at December 31, 2020, follows: Debits Credits Cash $215,000
Question 7 of 9 View Policies Current Attempt in Progress The trial balance of Ayayai Ltd. at December 31, 2020, follows: Debits Credits Cash $215,000 Sales revenue $8,244,000 163,000 4,900,000 309,000 305,000 99,000 655,000 1,960,000 FV-NI investments (at fair value) Cost of goods sold Bond investment at amortized cost FV-OCl investments (fair value $355,000) Notes payable (due in six months) Accounts payable Selling expenses Investment income or loss Land Buildings Dividends payable Income tax payable Accounts receivable Accumulated depreciation-buildings Allowance for doubtful accounts 10,000 270,000 1,140,000 36,000 97,000 525,000 162,000 26,000 Administrative expenses 910,000 Interest expense 221,000 697,000 Inventory Gain on disposal of land Dividends 50,000 30,000 Notes payable (due in five years) 910,000 221,000 697,000 50,000 30,000 910,000 610,000 Interest expense Inventory Gain on disposal of land Dividends Notes payable (due in five years) Equipment Bonds payable (due in three years) Accumulated depreciation-equipment Intangible assets-franchises (net) Common shares Intangible assets-patents (net) Retained earnings Accumulated other comprehensive income Totals 1,100,000 61,000 170,000 819,000 205,000 280,000 81,000 $12,630,000 $12,630,000 The investment income or loss relates to the FV-NI investments. (a) Prepare a classified statement of financial position as at December 31, 2020. Ignore income taxes. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.) Ayayai Ltd. Statement of Financial Position December 31, 2020 Assets Question 7 of 9 Liabilities and Shareholders' Equity $ Question 7 of 9 -/1 = Liabilities and Shareholders' Equity $
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