Required: Prepare a classified statement of financial position in good form.
Adjust the amounts in each SFP classification based on the additional information.
Provide a three-line title for your Statement of Financial Position.
Show all contra account balances where possible as wellas netcarrying value.
Use proper discosure techniques as appropriate.
Show all the calculations. Be sure to list current asset in order of liquidity.
Alyou Corporation produced the following draft statement of finandal poxition at Decerrber 31, 2000. Bayou Comoration Statement of Finandial Position Deximber 31, 2020 The follawing addisional infomation is availuble: 1. The currert assets section includes the followng: cash 5160,500 ; accounts receivable $181,900, iess $10,700 allowance for doubtul accounts; inventory 5192,600 ; and wacranty payable 55,350, The cash balance is componed of 5203,300 , less a bank overdratt of 542,900 lat a separate finandy initifution). Inventory is atated at the lower of AfO cost and net realizable value. 2. The invertments secion includes the following note recelvable from a felated company, due in 2026,542,800, FyeNt inveitments in ahares 555 , 600 thair value 585, cook, fv.oCl itivestmente in tharti 5133,750 thir value 5165,850k bond tinking fund 5267,500 ; and patent 5:23,050, nat of actumulated amoritation. 3. Property, Plare, and Equipment include bueldingrs 51,112,800, less accumutned depreciation $385,200, equipment 5481,500 , less accumulated depreciation $192,600, land $535,000, and tand held for future use $282,900 4. Intangble Assets include goodwill valued at $283,590. 5. Current liabilities indude the following accounts payable 5149,800 , short term notes payable, 585,600 , long:term notes poyable, 5128,400 , and ifrcone tax payable 542,800 6. Long-tem labilities as statedin thestatemert of finarcial posison above are componed solety of 7*bonds payable issued at a discount, due in 2028 7. Sharcholder' equity has 70,000 preferred shares (200,000 avthorited), which were issued for $481,500, and 107,000 common shares (unlimited number authoriad), which were issued at an avecage price of $10 per share. In addision, the comoration has acoumulated other comprehersive income of 532,100 8. Find the value of retained earnings to balance the statement of finandal parition. Required: Prepare a ciassified statement of finandal position in good form. Adjust the amourts in each SFP classifcation based on the additional information. Provide a three-line title for your Statement of Financial Position. Show all contra account bal ances where possible as well as netcarrying value. Use proper disclosure techniques as appropriste. Show all cakulations. Be sure to lat curnert assets in order of liquidity. Alyou Corporation produced the following draft statement of finandal poxition at Decerrber 31, 2000. Bayou Comoration Statement of Finandial Position Deximber 31, 2020 The follawing addisional infomation is availuble: 1. The currert assets section includes the followng: cash 5160,500 ; accounts receivable $181,900, iess $10,700 allowance for doubtul accounts; inventory 5192,600 ; and wacranty payable 55,350, The cash balance is componed of 5203,300 , less a bank overdratt of 542,900 lat a separate finandy initifution). Inventory is atated at the lower of AfO cost and net realizable value. 2. The invertments secion includes the following note recelvable from a felated company, due in 2026,542,800, FyeNt inveitments in ahares 555 , 600 thair value 585, cook, fv.oCl itivestmente in tharti 5133,750 thir value 5165,850k bond tinking fund 5267,500 ; and patent 5:23,050, nat of actumulated amoritation. 3. Property, Plare, and Equipment include bueldingrs 51,112,800, less accumutned depreciation $385,200, equipment 5481,500 , less accumulated depreciation $192,600, land $535,000, and tand held for future use $282,900 4. Intangble Assets include goodwill valued at $283,590. 5. Current liabilities indude the following accounts payable 5149,800 , short term notes payable, 585,600 , long:term notes poyable, 5128,400 , and ifrcone tax payable 542,800 6. Long-tem labilities as statedin thestatemert of finarcial posison above are componed solety of 7*bonds payable issued at a discount, due in 2028 7. Sharcholder' equity has 70,000 preferred shares (200,000 avthorited), which were issued for $481,500, and 107,000 common shares (unlimited number authoriad), which were issued at an avecage price of $10 per share. In addision, the comoration has acoumulated other comprehersive income of 532,100 8. Find the value of retained earnings to balance the statement of finandal parition. Required: Prepare a ciassified statement of finandal position in good form. Adjust the amourts in each SFP classifcation based on the additional information. Provide a three-line title for your Statement of Financial Position. Show all contra account bal ances where possible as well as netcarrying value. Use proper disclosure techniques as appropriste. Show all cakulations. Be sure to lat curnert assets in order of liquidity
