Tamarack at 31 December, adjusted: cash 47,300; accounts receivable 42,000 less allowance 2,700; inventory 51,900; supplies 2,100; prepaid insurance 6,400; land 220,000; building 480,000 less accumulated amortization 100,000; equipment 180,000 less 80,000; trademark 12,000. Complete the asset side.
Tamarack at 31 December, adjusted: cash 47,300; accounts receivable 42,000 less allowance 2,700; inventory 51,900; supplies 2,100; prepaid insurance 6,400; land 220,000; building 480,000 less accumulated amortization 100,000; equipment 180,000 less 80,000; trademark 12,000. Complete the asset side.
Answer
Accounts receivable, net → 39300 · Total current assets → 147000 · Building, net → 380000 · Total property, plant and equipment → 700000 · Total assets → 859000
Cells - Accounts receivable, net · ±0 - Total current assets · ±0 - Building, net · ±0 - Total property, plant and equipment · ±0 - Total assets · ±0 Receivables 42,000 − 2,700 = **39,300**. Current: 47,300 + 39,300 + 51,900 + 2,100 + 6,400 = **147,000**. Building 480,000 − 100,000 = **380,000**; PP&E 220,000 + 380,000 + 100,000 = **700,000**. Total 147,000 + 700,000 + 12,000 = **859,000**.
Lyryx Intermediate FA Vol 1 §4.2; Hermanson Vol 1 ch 4 (classified balance sheet); Dauderis & Annand §4.2; ASPE s.1510 (concept map O4)