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A. Below are the accounts of Agatha Trading for the year ended December 31, 2019.     Accounts Payable 100,000.00 Accounts Receivable 140,000.00 Capital 1,840,000.00 Cash 1,000,000.00 Inventories 450,000.00 Long term debt 300,000.00 Notes Payable 100,000.00 Notes Receivable 100,000.00 Property, Plant & Equipment 550,000.00 Supplies and other prepayments 100,000.00   B. Prepare a statement of financial position and label its parts. After which, answer the following questions.   a. How much is the total current liability of the entity? b. How much is the total non current asset of the entity? c. How much is the total current liability of the entity? d. How much is the total non current liability of the entity? e. How much is the total asset of the entity?

A. Below are the accounts of Agatha Trading for the year ended December 31, 2019.     Accounts Payable 100,000.00 Accounts Receivable 140,000.00 Capital 1,840,000.00 Cash 1,000,000.00 Inventories 450,000.00 Long term debt 300,000.00 Notes Payable 100,000.00 Notes Receivable 100,000.00 Property, Plant & Equipment 550,000.00 Supplies and other prepayments 100,000.00   B. Prepare a statement of financial position and label its parts. After which, answer the following questions.   a. How much is the total current liability of the entity? b. How much is the total non current asset of the entity? c. How much is the total current liability of the entity? d. How much is the total non current liability of the entity? e. How much is the total asset of the entity?

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 89E: Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and...
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A. Below are the accounts of Agatha Trading for the year ended December 31, 2019.  

 

Accounts Payable 100,000.00

Accounts Receivable 140,000.00

Capital 1,840,000.00

Cash 1,000,000.00

Inventories 450,000.00

Long term debt 300,000.00

Notes Payable 100,000.00

Notes Receivable 100,000.00

Property, Plant & Equipment 550,000.00

Supplies and other prepayments 100,000.00

 

B. Prepare a statement of financial position and label its parts. After which, answer the following questions.  

a. How much is the total current liability of the entity?

b. How much is the total non current asset of the entity?

c. How much is the total current liability of the entity?

d. How much is the total non current liability of the entity?

e. How much is the total asset of the entity?

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