Z company

Statement of Financial Position

December 31, 2019

Assets

Non-current assets

Long-term investments

Non-trading equity securities....................................................... 15,000

Property, plant, and equipment

Equipment....................................................................... 112,000

Less: Accumulated depreciationequipment............ 28,000 84,000

Intangible assets

Patent.............................................................................................. 15,000

Current Assets

Inventory........................................................................ 65,300

Accounts receivable ............. 43,000

Less: Allowance for doubtful accounts ................... 4,500 38,500

Cash............................................................................ 60,000

Total current assets.............................................. 163,800

Total assets............................................................ 277,800

Equity and Liabilities

Equity

Share capital-ordinary.................................................................. 100,000

Retained earnings.......................................................................... 50,800

Total equity........................................................................... 150,800

Non-current liabilities

Notes payable (due 2021).............................................................. 75,000

Current liabilities

Notes and accounts payable.......................................................... 52,000

Total liabilities...................................................................... 127,000

Total equity and liabilities.................................................................. 277,800

During 2020, the following occurred:

1. Z Company sold (for cash) one half of its non-trading equity investments at gain of 1000

2. Land is purchased through issuance of 14,000 in bonds.

3. Dividends totalling 9000 were declared (5,000 of them were paid)..

4. Net income of 2020 was 40,000 ( it Includes 12000 depreciation exp.)

5. 20,000 of long term notes payable were paid in cash before maturity.

6. Current liabilities increased by 10000

7. Patent is amortized by 1,500

According to these transactions:

What will be the balance of these accounts in statement of financial position 2020??

1. Long term investments:

2. Retained earnings:

3. Book value of Equipment:

4. Long term notes payable:

5. Current liabilities :

6. Bonds payable:

And for the year 2020:

7. What is the cash flow from operating activities?

8. What is the cash flow from financing activities?

9. What is the cash flow from investing activities?

10. In which section of income statement would you put the loss from first transaction above?