This is

Handout 035 SHS Statement of Financial Position

Please use this handout for

Lesson 035 Constructive Accounting for Senior High School 1:
Statement of Financial Position

Using the following information, prepare a properly classified Statement of Financial Position
for Graduation Company as at December 31, 20X1 under:
a. Report form
b. Account form

Accruals and other current liabilities 125,890

Bonds payable 5,000,000
Cash and cash equivalents 2,500,000
Current income tax payable 589,660
Intangible assets, net 2,654,700
Investment in associate 1,890,600
Investment in equity securities 3,650,400
Investment property 1,968,740
Long-term notes payable 2,000,000
Merchandise inventory 2,789,000
Office and store supplies 400,000
Other noncurrent assets 600,000
Other noncurrent liabilities 750,000
Owner's Equity 18,211,250
Prepayments and other current assets 385,000
Property, plant, and equipment, net 9,856,250
Short-term notes payable 320,000
Trade and other payables 1,562,890
Trade and other receivables 1,865,000

Page 1 of 1