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These items are taken from the financial statements of Concord Corp. at December 31, 2018. Buildings $ 211,600 Accounts receivable 25,200 Prepaid insurance 9,360 Cash
These items are taken from the financial statements of Concord Corp. at December 31, 2018. Buildings $ 211,600 Accounts receivable 25,200 Prepaid insurance 9,360 Cash 23,680 Equipment 164,800 Land 122,400 Office expense 1,160 Income tax expense 400 Depreciation expense 10,600 Interest expense 5,200 Common shares 124,000 Retained earnings (January 1, 2018) 80,000 Accumulated depreciation building 91,200 Accounts payable 16,800 Income taxes payable 2,200 Bank loan payable (due July 1, 2020) 187,200 Accumulated depreciation equipment 37,440 Interest payable 7,200 Sales 28,360 Question: Prepare a classified statement of financial position. Assume that $ 27,200 of the bank loan payable will be paid in 2019. (List Property, plant and equipment in order of land, buildings and equipment. List Current Assets in order of liquidity.) CONCORD CORP. Statement of Financial Position: A.For the month ended December 31th 2018 B.December 31th 2018 C.For the year ended December 31th 2018 Assets Liabilities and Shareholders' Equity
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