The following accounts and amounts (in thousands) were taken from the January 31, 2010, statement of financial position of The Forzani Group Ltd.:

Instructions
(a) Classify each account as an asset (A), liability (L), or shareholders' equity (SE) item.
(b) Determine Forzani's accounting equation by calculating the amount of total assets, total liabilities, and total shareholders' equity.

Transcribed Image Text:

Accounts payable and accrued liabilities Accounts receivable Bank indebtedness Capital assets Cash Goodwill and other intangibles Inventory Long-term debt Other assets Other liabilities Other shareholders' equity items Prepaid expenses Retained earnings Share capital $265,007 71,544 27,932 199,589 962 95,990 316,319 49,587 12,433 6,177 5,804 5,092 197,063 150,359