The statement of financial position of Concord Ltd . as of December 3 1 . 2
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The statement of financial position of Concord Ltd as of December is as follows.Concord LtdStatement of financial PositionDecember Assets Goodwill Note $Buildings Inventory Land Accounts receivable Treasury stock sharesCash on hand Assets allocated to trustee for plant expansionCash in bank Treasury notes, at cost and fair value EquitiesNotes payable Note $Share capital ordinary, authorized and issued, shares, no par Retained earnings Noncontrolling interest Income taxes payable Accumulated depreciationbuildings Note : Goodwill in the amount of $ was recognized because the company believed that book value was not an accurate representation of the fair value of the company. The gain of $ was credited to Retained Earnings.Note : Notes payable are noncurrent except for the current installment due of $
Prepare a corrected classified statement of financial position in good form. The notes above are for information only.
Related Book For
International Financial Reporting and Analysis
ISBN: 978-1408075012
5th edition
Authors: David Alexander, Anne Britton, Ann Jorissen
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