BE 234
Listed below in alphabetical order are the statement of financial position items of Rowan Company at December 31, 2014. Prepare a statement of financial position and include a complete heading.
Accounts payable$ 19,000
Accounts receivable25,000
Buildings96,000
Cash14,000
Equipment5,000
Share capital - ordinary121,000
Ex.
235
Determine the missing amount for each of the following.
Assets =Liabilities + Equity
1.(a)€30,000€75,000
2.€125,000(b)€85,000
3.€140,000€65,000(c)
Ex. 236
For the items listed below, fill in the appropriate code letter to indicate whether the item is an asset, liability, or equity item.
Code
AssetA
LiabilityL
EquityE
1.____Rent Expense_____ 6.Cash
2.____Equipment_____ 7.Accounts Receivable
3.____Accounts Payable_____ 8.Dividends
4.____Share Capital-Ordinary_____ 9.Service Revenue
5.____Insurance Expense_____ 10.Notes Payable