DRILL 4

Account form
Rod Neddie Trading
Balance sheet
As of December 31, 2016

ASSETS Note Liabilities and Owner's Equity

Current Assets Current Liabilities

Cash 5 200,000
Trade and Other Receivables 6 177,000 Non-Current Liabilities
Prepaid Expenses 7 8,000

Total Liabilities
Non-Current Assets
Property, plant and equipment 8 1,200,000 Owner's Equity

Total Assets 1,585,000 Total Liabilities and Capital

Report Form

Rod Neddie Trading

Balance Sheet
As of December 31, 2016

Assets Note

Current Assets
Cash 5
Trade and Other Receivables 6
Prepaid expenses 7

Non-Current Assets
Property, Plant, And Equipment 8

Total Assets

Liabilities and Owner's Equity Note

Current Liabilities
Trade and Other Payables 9
Non-Current Liabilities
Mortgage Payable
Loan Payable
Total Liabilities
 Owner's Equity
R, Capital
Total Liabilities and Capital

EXERCISE 4

Dolly Trading
Statement of Financial Position
As of December 31, 2017
Assets Note
Current assets
Cash 5
Trade and Other Receivables 6
Merchandise Inventory
Prepaid Expense 7
Total Current Assets
Non-Current Assets
Property, plant and Equipment 8

Total Assets

Liabilities &Owner Equity

Current Liabilities
Trade and Other Payable 9

Total Liabilities

Owner's Equity
Dolly, Capital

Total Liabilities and Capital

Liabilities and Owner's Equity Note

Current Liabilities
Trade and Other Payables 9 60,000
Non-Current Liabilities
Mortgage Payable 700,000
Loan Payable 80,000 780,000
Total Liabilities 840,000

Owner's Equity
R, Capital 745,000
Total Liabilities and Capital 1,595,000

200,000
177,000
8,000

1,200,000

1,585,000

60,000

700,000
80,000 780,000
840,000
 745,000
1,585,000

Note 5-Cash
Cash 17,500
17,500
11,000 Note 6 - Trade and Other Receivables
16,500 Accounts Receivables 6,000
1,500 Notes Receivables 5,000
46,500 Total 11,000

17,700 Note 7- Prepaid Expense

Prepaid Insurance 1,000
64,200 Office Supplies 500
Total 1,500

Note 8- Property, Plant and Equipment

14,200 Equipment
Less: Accumulated Depreciation
14,200 Furniture & Fixture
Less: Accumulated Depreciation
Total
50,000
Note 9- Trade and Other Payable
64,200 Accounts Payable 10,000
Utilities Payable 4,200
Total 14,200

Current Assets Current Liability

Cash Accounts Payable
Accounts Receivables Notes Payable(this year)
Prepaid Insurance Bonds Payable
Prepaid Rent Taxes Payable
Notes Receivables Utilities Payable
Supplies Accrued Liabilities
Unearned Rent

Property, Plant, and Equipment Non-Current Liability

Land Loan Payable(5 Years)
Building Mortgage Payable
Furniture
Truck
Equipment