Question
TEL Company provided the following account balances on December 31, 2019: Accounts receivable 400,000.00 Advances to officers-not-currently collectible 100,000.00 Sinking fund 400,000.00 Building 5,000,000.00 Long-term
TEL Company provided the following account balances on December 31, 2019:
Accounts receivable 400,000.00
Advances to officers-not-currently collectible 100,000.00
Sinking fund 400,000.00
Building 5,000,000.00
Long-term refundable deposit 50,000.00
Cash and cash equivalents 500,000.00
Cash surrender value 60,000.00
Equipment 1,000,000.00
Lease rights 100,000.00
Accrued interest on notes receivable 10,000.00
Inventories 1,300,000.00
Land 1,500,000.00
Land held for speculation 500,000.00
Notes receivable 250,000.00
Computer software 3,250,000.00
Prepaid expenses 70,000.00
Trading securities 280,000.00
Unearned rent income 40,000.00
Retained earnings (deficit) (1,800,000.00)
Share premium preference 500,000.00
Premium on bonds payable 1,000,000.00
Preference share capital 2,000,000.00
Share premium ordinary 200,000.00
Notes payable 300,000.00
SSS payable 10,000.00
Accounts payable 400,000.00
Accrued salaries 100,000.00
Accumulated depreciation building 2,000,000.00
Accumulated depreciation equipment 200,000.00
Allowance for doubtful accounts 20,000.00
Bonds payable 5,000,000.00
Dividends payable 120,000.00
Ordinary share capital 5,000,000.00
Withholding tax payable 30,000.00
Preference share redemption fund 350,000.00
Required: A detail "Notes" of statement of financial position on December 31, 2019.
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