The liabilities and shareholders' equity items (in millions) that follow were taken from the March 31, 2016,
Question:
The liabilities and shareholders' equity items (in millions) that follow were taken from the March 31, 2016, balance sheet for Saputo Inc.:
Accounts payable and accrued liabilities....................$ 896.6
Bank loans payable (current)....................................423,1
Common shares...................................................821,0
Deferred income taxes payable (non-current).................475,6
Income taxes payable..............................................37,1
Long-term debt.................................................1,208.3
Other long-term liabilities.........................................61.8
Retained earnings..............................................3,180,8
Instructions
Prepare the liabilities and shareholders' equity sections of the statement of financial position.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Step by Step Answer:
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine