Leon s Furniture Ltd is one of Canada s largest retailers selling
Leon’s Furniture Ltd. is one of Canada’s largest retailers, selling a wide range of merchandise, including furniture, major appliances, and home electronics. A recent statement of financial position contained the following items (in millions). Prepare a statement of financial position as at December 31, 2012, solving for the missing amount.
Cash and cash equivalents .................$ 75
Dividends payable .................... 7
Intangible assets and goodwill .............. 14
Inventories 86 Net property, plant, and equipment ...... 218
Noncurrent liabilities ................... 18
Other assets ..................... 11
Other current assets .................. 152
Other current liabilities .................. 35
Retained earnings .................... 425
Contributed capital .................. 27
Total assets ..................... 586
Total liabilities and shareholders’ equity .......... ?
Trade receivables ................... 30
Trade and other payables ................ 74
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help