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Mathilda Company Financial Position 2020

The document provides financial information for Mathilda Company as of December 31, 2020 including assets, liabilities, equity, income and expenses to prepare a statement of financial position under the report form and account form.

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Charles Benedic Lopez
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3 views1 page

Mathilda Company Financial Position 2020

The document provides financial information for Mathilda Company as of December 31, 2020 including assets, liabilities, equity, income and expenses to prepare a statement of financial position under the report form and account form.

Uploaded by

Charles Benedic Lopez
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Problem 2.

Using the following information, prepare a properly classified Statement of


Financial Position for Mathilda Company as at December 31, 2020 under:
a. Report form
b. Account form

Intangible assets, net   1,500,000.00

Short term Investment - equity securities   4,200,000.00

Long-term Investment-property   220,000.00

Long-term notes payable   3,500,000.00


Cash and cash equivalents   3,500,000.00

Current income tax payable   400,000.00

Merchandise inventory   350,000.00

Office and store supplies   250,000.00

Other noncurrent assets   550,000.00

Other noncurrent liabilities   1,000,000.00

Mathilda, Capital   8,000,000.00

Mathilda, Drawing   1,000,000.00

Net Income   8,000,000.00

Bonds payable   3,500,000.00

Accruals and other current liabilities   240,000.00

Prepayments and other current assets   390,000.00

Property, plant, and equipment, net   12,000,000.00

Short-term notes payable   320,000.00

Trade and other payables   1,200,000.00

Trade and other receivables   2,200,000.00

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