Ex. 268
At September 1, the statement of financial position accounts for Stanley’s Restaurant were as follows:
Accounts Payable$ 3,800Land$33,000
Accounts Receivable11,600Share Capital-Ordinary?
Buildings68,000Notes Payable48,000
Cash10,000Supplies6,600
Equipment18,700
The following transactions occurred during the next two days:
The company issued additional ordinary shares for $22,000 cash invested in the business. The accounts payable were paid in full. (No payment was made on the notes payable.)
Instructions
Prepare a statement of financial position at September 3, 2014.
Ex. 269
Presented below are items for Wilson Company at December 31, 2014.
Accounts payable€45,000
Accounts receivable36,000
Cash27,000
Equipment62,000
Share capital-ordinary30,000
Notes payable50,000
1.Total assets.
2.Total liabilities.