Saint John Corporation provided you with the following statements of Financial Statements as of December 31,2020: Saint John Corporation Statements Financial Position December 31,2020 Assets Liabilities and equity Currents Liabilities: Accounts Payable Other current liabilities TOTAL 68,000 40,000 105,000 Currents Assets: Cash 250,000 150,000 Trading securities Accounts Receivables (net Inventory Other Current ass 427,000 620,000 284,000 1,741.000 Long term liabilities Total Liabilities 655,000 763,000 Total Equity: Share capital Retained Earning Total Equity Total liabilities and Equity Non-current Assets: Property, plant and equipment Treasury shares Other non-currents Total 1,295,000 90,000 272,000 1,658,000 3,339,000 1,000,000 1.636.000 2,636,000 3,399,000 Total Assets The Following additional information relates to the December 31,2020 statement of financial position: Cash includes 80,000 that has been restricted for the purchase of manufacturing equipment non-current assets: b) Trading securities include 55,000 Of stocks that has was purchased in order to give the company ownership and a seat on the board of directors of a major suppliers. c) Other current assets also include a 80,000 advance to the president company. No due date has been set. d) Long term liabilities also include bonds payable of 200,000. Of this amount 50,000 represent bonds of scheduled to be redeemed in 2021. e) Long term liabilities also include a 140,000 banks loan. On May 15,2021, the loan will become due on demand. f) On December 21 dividends in the amount of 300,000 were declared to be paid to shareholders of record on January 25. These dividends has not been reflected in the financial statements. a) g) Cash in the amounts of 380,000 has been placed in a restricted for the redemption of preference shares I 2021. Both the cash and the shares have been removed from the the statements of financial position. h) Property, plant and equipment includes land costing 160,000 has been held for investments purposes that is scheduled to be sold in 2021. Question: Determine the adjusted amounts of the following as of December 31,2020: 1. Total currents assets 2. Total non-currents assets 3. Total current liabilities 4. Total non-current liabilities 5. Total equity

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Saint John Corporation provided you with the following statements of Financial
Statements as of December 31,2020:
Saint John Corporation
Statements Financial Position
December 31,2020
Assets
Liabilities and equity
Currents Liabilities:
Currents Assets:
Accounts Payable
Other current liabilities
TOTAL
68,000
Cash
250,000
150,000
40,000
105,000
Trading securities
Accounts Receivables (net
Inventory
Other Current ass
427,000
620,000
Long term liabilities
Total Liabilities
655,000
284,000
1,741.000
763,000
Total
Non-current Assets:
Property, plant and equipment
Treasury shares
Other non-currents
Equity:
Share capital
Retained Earning
Total Equity
Total liabilities and Equity
1,295,000
1,000,000
1,636,000
2,636,000
3,399,000
90,000
272,000
1,658,000
3,339,000
Total
Total Assets
The Following additional information relates to the December 31,2020 statement of
financial position:
a) Cash includes 80,000 that has been restricted for the purchase of manufacturing
equipment non-current assets:
b) Trading securities include 55,000 Of stocks that has was purchased in order to give the
company ownership and a seat on the board of directors of a major suppliers.
c) Other current assets also include a 80,000 advance to the president company. No due
date has been set.
d) Long term liabilities also include bonds payable of 200,000. Of this amount 50,000
represent bonds of scheduled to be redeemed in 2021.
e) Long term liabilities also include a 140,000 banks loan. On May 15,2021, the loan will
become due on demand.
f) On December 21 dividends in the amount of 300,000 were declared to be paid to
shareholders of record on January 25. These dividends has not been reflected in the
financial statements.
g) Cash in the amounts of 380,000 has been placed in a restricted for the redemption of
preference shares I 2021. Both the cash and the shares have been removed from the the
statements of financial position.
h) Property, plant and equipment includes land costing 160,000 has been held for
investments purposes that is scheduled to be sold in 2021.
Question: Determine the adjusted amounts of the following as of December 31,2020:
1. Total currents assets
2. Total non-currents assets
3. Total current liabilities
4. Total non-current liabilities
5. Total equity
Full text: 2680
Aa =
II
Transcribed Image Text:4G 4G 2.90 20:50 36% KB/s Done 29 Saint John Corporation provided you with the following statements of Financial Statements as of December 31,2020: Saint John Corporation Statements Financial Position December 31,2020 Assets Liabilities and equity Currents Liabilities: Currents Assets: Accounts Payable Other current liabilities TOTAL 68,000 Cash 250,000 150,000 40,000 105,000 Trading securities Accounts Receivables (net Inventory Other Current ass 427,000 620,000 Long term liabilities Total Liabilities 655,000 284,000 1,741.000 763,000 Total Non-current Assets: Property, plant and equipment Treasury shares Other non-currents Equity: Share capital Retained Earning Total Equity Total liabilities and Equity 1,295,000 1,000,000 1,636,000 2,636,000 3,399,000 90,000 272,000 1,658,000 3,339,000 Total Total Assets The Following additional information relates to the December 31,2020 statement of financial position: a) Cash includes 80,000 that has been restricted for the purchase of manufacturing equipment non-current assets: b) Trading securities include 55,000 Of stocks that has was purchased in order to give the company ownership and a seat on the board of directors of a major suppliers. c) Other current assets also include a 80,000 advance to the president company. No due date has been set. d) Long term liabilities also include bonds payable of 200,000. Of this amount 50,000 represent bonds of scheduled to be redeemed in 2021. e) Long term liabilities also include a 140,000 banks loan. On May 15,2021, the loan will become due on demand. f) On December 21 dividends in the amount of 300,000 were declared to be paid to shareholders of record on January 25. These dividends has not been reflected in the financial statements. g) Cash in the amounts of 380,000 has been placed in a restricted for the redemption of preference shares I 2021. Both the cash and the shares have been removed from the the statements of financial position. h) Property, plant and equipment includes land costing 160,000 has been held for investments purposes that is scheduled to be sold in 2021. Question: Determine the adjusted amounts of the following as of December 31,2020: 1. Total currents assets 2. Total non-currents assets 3. Total current liabilities 4. Total non-current liabilities 5. Total equity Full text: 2680 Aa = II
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