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Lynn Dreise is the bookkeeper for Sanculi SpA. Lynn has been trying to get the statement of financial position of Sanculi to balance correctly. Sanculis statement of fi nancial position is shown as follows. Instructions Prepare a correct statement of financial position. Sanculi SpA Statement of Financial Position December 31, 2020 Liabilities Share capital-ordinary Retained earnings Accounts payable Accounts receivable

Chapter 1, Exercises #13

Lynn Dreise is the bookkeeper for Sanculi SpA. Lynn has been trying to get the statement of financial position of Sanculi to balance correctly. Sanculi’s statement of fi nancial position is shown as follows.

Sanculi SpA Statement of Financial Position December 31, 2020 Liabilities Share capital-ordinary Retained earnings Accou


Instructions
Prepare a correct statement of financial position.

Transcribed Image Text:

Sanculi SpA Statement of Financial Position December 31, 2020 Liabilities Share capital-ordinary Retained earnings Accounts payable Accounts receivable Total equity and liabilities Assets Equipment Supplies Cash Dividends Total assets €48,000 €50,000 8,000 17,500 16,000 (8,500) 14,000 5,000 €75,000 €75,000

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SANCULI SPA Statement of Financial Position December 31, 2020 Assets Equipment........................................................................................... …View the full answer

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Related Book For answer-question
Financial Accounting with International Financial Reporting Standards

Financial Accounting with International Financial Reporting Standards

4th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

ISBN: 978-1119504306

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