addtional information :

• The average cost method of inventory value is used.
• The cost and fair value of the long-term investments that consist of stocks and bonds is the same.
• The amount of the Construction Work in Progress account represents the costs expended to date on a building in the process of construction. (The company rents factory space at the present time.) The land on which the building is being constructed cost $85,000, as shown in the trial balance.
• The patents were purchased by the company at a cost of $40,000 and are being amortized on a straight-line basis.
• The notes payable represent bank loans that are secured by long-term investments carried at $120,000. These bank loans are due in 2020
• The bonds payable bear interest at 8% payable every December 31, and are due January 1, 2030.
• 600,000 shares of common stock of a par value of $1 were authorized, of which 500,000 shares were issued and outstanding.

Instructions

Prepare a statement of financial position as of December 31, 2019, so that all important information is fully disclosed

p5.3 (statement of financial position adjustment and preperation) the adjusted trial balance of asian-pacific Itd and other related information for the year 2019 are presented below (ammount 240,000 in thousand) Accumulated Depreciation of Equipment Accounts Payable 148,000 Accrued Expenses 49,200 Notes Payable Bonds Payable 94,00 200,000 Common Stock 500,000 Stock Paid-in Capital in Excess of Par-Common 45,000 asian pacific Itd Retained Earnings 138,000 $1,402,900 $1,402,900 ADJUSTED TRIAL BALANCE DECEMBER 31, 2019 Additional information: Debits Credits Cash $ 41,000 Accounts Receivable 163,500 Allowance for Doubtful Accounts $ 8,700 Prepaid Insurance 5,900 Inventory Long-term Investments 208,500 339,000 Land 85,000 Construction Work in Progress 124,000 Patents 36,000 Equipment 400,000 Accumulated Depreciation of Equipment 240,000 1. The average cost method of inventory value is used. 2. The cost and fair value of the long-term investments that consist of stocks and