The assets(in thousands) that follow were taken from the December 31, 2015, bala

Question

The assets(in thousands) that follow were taken from the December 31, 2015, balance sheet for Big Rock Brewery nc $456 4,935 8,377 24,860 1,054 1286 1,573 $2,221 Intangible assets 1,817 Inventories 10,122 Land Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-machinery and equipment Accumulated depreciation-mobile equipment Accumulated depreciation-office furniture and equipment Buildings Cash 434 Machinery and equipment 516 Mobile equipment 17,692 Office furniture and equipment Prepaid expenses and other Prepare the assets section of the statement of financial position. (List current assets in order of liquidity, List Property, Plant, and Equipment in order of Land, Buildings, Machinery and Equipment, Mobile Equipment, and Office Furniture. Show all amounts in thousands of dollars.) BIG ROCK B Statement of Financial Position (partial) (in

Explanation / Answer

Big rock brewery Inc. Statement of financial position $ $ Assets Current assets: Cash 540 Accounts receivable 2221 Inventories 4935 Prepaid expense and other 1573 Total current assets (a) 9269 Property,Plant and equipment: Land 8377 Buildings 17692 Less: Accumulated depreciation-Buildings 1817 15875 Machinery and equipment 24860 Less: Accumulated depreciation-Machinery and equipment 10122 14738 Mobile equipment 1054 Less: Accumulated depreciation-Mobile equipment 434 620 Office furniture and equipment 1286 Less: Accumulated depreciation-Office furniture and equipment 516 770 Total property,Plant and equipment (b) 40380 Intangible assets © 456 Total assets (a)+(b)+© 50105 Blossom computer corporation Sl No. Assets Liabilities Equity Cash + Accounts Receivable + Prepaid Insurance + Office Equipment = Accounts Payable Bank loan + Common Stock - Dividends + Retained earnings Balance 5400 6400 2000 5500 4300 1 8500 8500 2 -1600 -1600 3 4100 4100 4 -200 -200 5 21000 21000 6 -8500 -8500 7 -600 600 8 3100 -3100 9 -500 500 10 -280 -280 Balance 17820 7400 600 8500 2000 21000 5500 500 6320 Saputo Inc. (a) (b) © Account Type of account Normal balance Financial statement Bank loans payable Liabilities Credit Statemet of financial position Buildings Asset Debit Statemet of financial position Cash Asset Debit Statemet of financial position Depreciation expense expenses Debit Income statement Dividends declared dividends Debit Statement of changes in equity Finance income revenues Credit Income statement Furniture,Machinery and equipment Asset Debit Statemet of financial position Income tax expenses expenses Debit Income statement Income taxes payable Liabilities Credit Statemet of financial position Interest expense expenses Debit Income statement Inventories Asset Debit Statemet of financial position Prepaid expense Asset Debit Statemet of financial position Receivables Asset Debit Statemet of financial position Revenues revenues Credit Income statement Decorators Mill Ltd. Account Debited Account Credited March 2 Cash Common stock 4 Car Cash Accounts payable 10 Accounts receivable Service revenue 13 Advertising expense Cash 25 Cash Accounts receivable 27 Accounts payable Cash 30 Cash Unearned revenue 31 Dividends Cash Sl No. Assets Liabilities Equity Cash + Accounts Receivable + + Car = Accounts Payable Unearned revenue + Common Stock - Dividends + Retained earnings Mar 2 11400 11400 4 -900 10100 9200 10 2200 2200 13 -220 -220 25 1090 -1090 27 -9200 -9200 30 640 640 31 -290 290 Balance 1110 10100 0 640 11400 290 1980

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