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EXERCISE 5: PREPARING THE STATEMENT OF FINANCIAL POSITION At the end of December 31, 2012, Cougar Inc.'s accounts are as follows: Accumulated depreciation Current income taxes payable Long-term borrowings Inventories Trade receivables al Non-current assets (at cost) Trade and other payables Mortgage Accrued expenses Future income taxes payable Share capital $100,000 5,000 25,000 90,000 is) 60,000 300,000 40,000 130,000 10,000 T JADWAN 5,000 nomaalatan 100,000 Prepaid expenses Intangible assets Cash and cash equivalents PREADSHEE 10,000 20,000 Retained earnings Short-term borrowings 25,000 80,000 10,000 130220033 home nisi fe Question Prepare Cougar Inc.'s statement of financial position as at December 31, 201

EXERCISE 5: PREPARING THE STATEMENT OF FINANCIAL POSITION At the end of December 31, 2012, Cougar Inc.'s accounts are as follows: Accumulated depreciation Current income taxes payable Long-term borrowings Inventories Trade receivables al Non-current assets (at cost) Trade and other payables Mortgage Accrued expenses Future income taxes payable Share capital $100,000 5,000 25,000 90,000 is) 60,000 300,000 40,000 130,000 10,000 T JADWAN 5,000 nomaalatan 100,000 Prepaid expenses Intangible assets Cash and cash equivalents PREADSHEE 10,000 20,000 Retained earnings Short-term borrowings 25,000 80,000 10,000 130220033 home nisi fe Question Prepare Cougar Inc.'s statement of financial position as at December 31, 201

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 61E: Recording Various Liabilities Glenview Hardware had the following transactions that produced...
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I need help with preparing a balance sheet as well as statement of financial position for the question below

EXERCISE 5: PREPARING THE STATEMENT OF FINANCIAL POSITION At the end of December 31, 2012, Cougar Inc.'s accounts are as follows: Accumulated depreciation Current income taxes payable Long-term borrowings Inventories Trade receivables Non-current assets (at cost) Trade and other payables Mortgage Accrued expenses $100,000 5,000 25,000 90,000 to mabass) 60,000 300,000 40,000 130,000 10,000 MITTE JADWAN 30X320133 olanomatare Istam 100,000 gniwallol ads sinqer PREADSH 10,000 m2 1 20,000 25,000 80,000 10,000 Future income taxes payable Share capital Prepaid expenses Intangible assets Cash and cash equivalents Retained earnings Short-term borrowings Question Prepare Cougar Inc.'s statement of financial position as at December 31, 2012.
Transcribed Image Text:EXERCISE 5: PREPARING THE STATEMENT OF FINANCIAL POSITION At the end of December 31, 2012, Cougar Inc.'s accounts are as follows: Accumulated depreciation Current income taxes payable Long-term borrowings Inventories Trade receivables Non-current assets (at cost) Trade and other payables Mortgage Accrued expenses $100,000 5,000 25,000 90,000 to mabass) 60,000 300,000 40,000 130,000 10,000 MITTE JADWAN 30X320133 olanomatare Istam 100,000 gniwallol ads sinqer PREADSH 10,000 m2 1 20,000 25,000 80,000 10,000 Future income taxes payable Share capital Prepaid expenses Intangible assets Cash and cash equivalents Retained earnings Short-term borrowings Question Prepare Cougar Inc.'s statement of financial position as at December 31, 2012.
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