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Question 1 Not yet answered Marked out of 10

Accounting

Question 1 Not yet answered Marked out of 10.00 Flag question Presented below is the trial balance of Robin Hood Corporation at December 31, 2019 (LOW221013) Debit Crede € 394,000 e 15,800,000 306,000 9,600,000 598.000 554,000 180,000 910 000 4,000,000 Account Title Cash Sales Revenue Trading Securities (at cost, €145,000) Cost of Goods Sold Long-term Investments in Bonds Long-term Investments in Shares Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory 126,000 520,000 2,080,000 272,000 192,000 870,000 704.000 50,000 1.800,000 422,000 1,194,000 R
1.100.000 422.000 1.194.000 1. 000 1.200.000 Allowance for Doubtfol Accounts Administrative Expenses Interest Expense Inventory Pension Liability (long term) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation Equipment Franchises Share Capital-Ordinary (€5 par) Treasury Shares Patents Retained Earnings Accumulated Other Comprehensive Income Total 2.000.000 120.000 320,000 2.000.000 382,000 390,000 156,000 160,000 € 24,630,000 € 24,630,000 Required: Prepare a statement of financial position at December 31, 2019. for Robin Hood Corporation. (Ignore income taxes.) EXCEL Paragraph B 1 22
T/OU 520,000 2,080,000 272,000 192,000 870,000 704,000 50.000 Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Pension Liability (long-term) Notes Payable (long-term) Equipment Bonds Payable Accumulated Depreciation Equipment Franchises Share Capital-Ordinary (€5 par) Treasury Shares Patents Retained Earnings Accumulated Other Comprehensive Income 1.800.000 422,000 1,194,000 160,000 1,800,000 1,200,000 2,000,000 120,000 320,000 2,000,000 382,000 390,000 Total 156,000 160,000 € 24,630,000 € 24,630,000 Required: Prepare a statement of financial position at December 31 2019, for Robin Hood Corporation (Ignore income taxes.) EXCEL F8
Presented below is the trial balance of Robin Hood Corporation at December 31, 2019. (LOW2&LOW) Debut Crede e 394,000 € 15.800.000 306.000 9,600,000 598,000 554.000 180.000 910,000 4,000,000 126,000 Account Title Cash Sales Revenue Trading Securities (at cost, €145.000) Cost of Goods Sold Long-term Investments in Bonds Long-term Investments in Shares Notes Payable (short-term) Accounts Payable Selling Expenses Investment Revenue Land Buildings Dividends Payable Accrued Liabilities Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Administrative Expenses Interest Expense Inventory Pension Liability (long-term) Notes Payable (long-term) Equipment 520,000 2,080,000 272,000 192,000 870,000 704,000 50,000 1.800.000 422,000 1,194,000 160,000 1,800,000 1.200.000

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ROBIN HOOD CORPORATION

   

Statement of Financial Position

   

as on 31st December 2019

 

   

31st December 2019

Assets

   

Current assets:

   

Cash

 

                              3,94,000

Trading Securities

 

                              3,06,000

Trade Receivable

 

                              8,70,000

Inventory

 

                            11,94,000

Total current assets

 

                            27,64,000

     

Non Current Assets:

   

Land

 

                              5,20,000

Building

         20,80,000

 

Less: Accumulated Depreciation

        7,04,000

                            13,76,000

Long term Investment in Bonds

 

                              5,98,000

Long term Investment in Shares

 

                              5,54,000

Equipment

      12,00,000

 

Less: Accumulated Depreciation

        1,20,000

                            10,80,000

Treasury shares

 

                              3,82,000

Franchises

 

                              3,20,000

Patents

 

                              3,90,000

Total Non Current Assets

 

                            52,20,000

Total Assets

 

                  79,84,000

     

Liabilities

   

Current liabilities and provisions:

   

Accounts Payable

 

                              9,10,000

Notes Payable (Short Term)

 

                              1,80,000

Dividend Payable

 

                              2,72,000

Accured Liabilities

 

                              1,92,000

Allowance for Doubtful Debts

 

                                 50,000

Total current liabilities

 

                            16,04,000

     

Non Current Liabilities and Provisions:

   

Pension Liability (Long Term)

 

                              1,60,000

Notes payable (Long Term)

 

                            18,00,000

Bonds Payable

 

                            20,00,000

Total Long term Liabilities

 

                            39,60,000

Total Liabilities

 

                  55,64,000

     

Shareholder's Equity

   

Share capital Ordinary

 

                            20,00,000

Profits for the year

 

                              2,64,000

Retained Earning

 

                              1,56,000

Shareholder's Equity

 

                  24,20,000

Total Liabilities & Shareholder's Equity

 

                  79,84,000

     

Check

 

0.000

Calculation of Profits for the year

please see the attached file.

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