Question
Teal Mountain Inc. shows a balance of $509,930 in the Accounts Receivable account on December 31, 2020. The balance consists of the following: Instalment accounts
Teal Mountain Inc. shows a balance of $509,930 in the Accounts Receivable account on December 31, 2020. The balance consists of the following:
Instalment accounts due in 2021 | $85,500 | |
Instalment accounts due after 2021 | 72,000 | |
Overpayments to creditors | 12,710 | |
Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan | 165,000 | |
Advances to employees | 69,720 | |
Advance to subsidiary company (made in 2015) | 105,000 | |
$509,930 |
Show how the information above should be presented on the statement of financial position of Teal Mountain Inc. at December 31, 2020.
Teal Mountain Inc. Statement of Financial Position choose the accounting period At the Year Month December 31, 2020At the Year End December 31, 2020December 31, 2020 | ||||
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select an opening section name Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityNon-current AssetsTotal from customersCustomersAccounts receivableNon-Current Accounts Receivable | ||||
select an opening name for subsection one Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityNon-current AssetsTotal from customersCustomersAccounts receivableNon-Current Accounts Receivable | ||||
select a balance sheet item Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityNon-current AssetsTotal from customersCustomersAccounts receivableNon-Current Accounts Receivable | ||||
select a balance sheet item AccountsAdvance to subsidiary companyInstalment accounts collectible due after December 31, 2021Instalment accounts collectible due in 2021Other | $enter a dollar amount | |||
select a balance sheet item AccountsAdvance to subsidiary companyInstalment accounts collectible due after December 31, 2021Instalment accounts collectible due in 2021Other | enter a dollar amount | |||
select a balance sheet item Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityNon-current AssetsTotal from customersCustomersAccounts receivableNon-Current Accounts Receivable | enter a subtotal of the two previous amounts | |||
select a balance sheet item AccountsAdvance to subsidiary companyInstalment accounts collectible due after December 31, 2021Instalment accounts collectible due in 2021Other | enter a dollar amount | $enter a total amount for subsection one | ||
select an opening name for subsection two Current AssetsCurrent LiabilitiesIntangible AssetsLong-term InvestmentsLong-term LiabilitiesProperty, Plant and EquipmentStockholders' EquityTotal AssetsTotal Current AssetsTotal Current LiabilitiesTotal Intangible AssetsTotal LiabilitiesTotal Liabilities and Stockholders' EquityTotal Long-term InvestmentsTotal Long-term LiabilitiesTotal Property, Plant and EquipmentTotal Stockholders' EquityNon-current AssetsTotal from customersCustomersAccounts receivableNon-Current Accounts Receivable | ||||
select a balance sheet item AccountsAdvance to subsidiary companyInstalment accounts collectible due after December 31, 2021Instalment accounts collectible due in 2021Other | enter a dollar amount | |||
select a balance sheet item AccountsAdvance to subsidiary companyInstalment accounts collectible due after December 31, 2021Instalment accounts collectible due in 2021Other | enter a dollar amount |
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