balance Sheet statement of financial position 3 Accounts Pa

balance Sheet - statement of financial position

3.

Accounts Payable

$14,500

Accounts Receivable

$2,500

Accumulated Amortization, patents

$3,500

Accumulated Depreciation, equipment

$3,000

Retained Earnings

$6,400

Cash

$41,900

Common Shares

$40,000

Equipment

$3,500

Land

$15,000

Long-term investments

$500

Bank loan payable (due in 5 years)

$4,200

Patents

$5,500

Short-term (trading) investments

$2,700

Please make a balance sheet ;The following information is available for Jordi Ltd. at December 31, 2017:

Accounts Payable	$14,500
Accounts Receivable	$2,500
Accumulated Amortization, patents	$3,500
Accumulated Depreciation, equipment	$3,000
Retained Earnings	$6,400
Cash	$41,900
Common Shares	$40,000
Equipment	$3,500
Land	$15,000
Long-term investments	$500
Bank loan payable (due in 5 years)	$4,200
Patents	$5,500
Short-term (trading) investments	$2,700

Solution

Jordi Limited Balance Sheet December 31, 2017 Assets Current assets: Cash 41900 Short-term (trading) investments 2700 Accounts receivable 2500 Total current assets 47100 Long-term investments 500 Property, plant, and equipment Land 15000 Equipment 3500 Less: Accumulated depreciation -3000 500 Total property, plant, and equipment 15500 Intangible assets: Patents, net 2000 Total assets 65100 Liabilities and Stockholders\' Equity Current liabilities: Accounts payable 14500 Long-term liabilities: Bank loan payable 4200 Total liabilities 18700 Stockholders\' Equity Common shares 40000 Retained earnings 6400 Total stockholders\' equity 46400 Total liabilities and stockholders\' equity 65100