Dilemma Company

Statement of Financial Position

December 31, 2023

ASSETS

Current assets Note

Cash 800,000
Financial asset at fair value 440,000
Trade and other receivable 1 700,000
Inventory 1,000,000
Prepaid expenses 160,000
Total current assets

Noncurrent assets:
Property, plant and equipment 2 6,700,000
Intangible asset 3 200,000
Total noncurrent assets

Total assets

EQUITY AND LIABILITIES

Current liabilities
Trade and other payables 4 1,200,000
Total current liabilities

Noncurrent liabilities
Bonds payable 5 1,800,000
Note payable to bank, due July 1, 2021 250,000
Total noncurrent liabilities

Total liabilities

Shareholders’ equity
Share capital, P100 par, 40,000 shares authorized
30,000 shares issued 3,000,000
Reserve 6 250,000
Retained earnings 7 3,750,000
Treasury shares, at cost, 2,000 shares (250,000)
Total shareholders’ equity

Total liabilities and shareholders’ equity

 Note 1 - Trade and other receivables

Account receivable 750,000

Allowance for doubtful acccounts -50,000
Total 700,000

3,100,000 Note 2 - Property, plant and equipment

Cost
Land 500,000.00
Building in process 5,000,000.00
Machinery and Equipment 1,500,000.00
6,900,000 Total 7,000,000.00

10,000,000
Note 3 - Intangible Assets

Patent 200,000

1,200,000 Note 4 - Trade and other payables

Accounts Payable
Accrued Expense
Accrued Interest on bonds payable (2,000,000 x 10% x 3/
2,050,000 Liability for loss on lawsuit
Total
3,250,000

Note 5 - Bonds Payable

Bonds Payable
Discount on Bonds Payable
Total
 6,750,000 Note 6 - Reserves

10,000,000 Retained earnings appropriated for treasury shares

Note 7 - Retained Earnings

Unadjusted balance
Add: Cancelation of appropriation for contingencies
Total
Less: Interest accrued on bonds payab 50,000
Appropriated for treasury stock 250,000
Actual loss on lawsuit 100,000
Unappropriated retained earnings
rty, plant and equipment

Accumulated Depreciation Book value

- 500,000.00
- 5,000,000.00
300,000.00 1,200,000.00
300,000.00 6,700,000.00

ngible Assets

her payables

900,000
150,000
50,000
100,000
1,200,000

Payable

2,000,000
-200,000
1,800,000
 250,000

4,000,000
150,000
4,150,000

400,000
3,750,000