FinAcc1-4

FinAcc1-4 - Problem24 RelaxCompany...

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Problem 2-4 Relax Company Statement of Financial Position December 31, 2008 A S S E T S Current assets:       Note     Cash    400,000     Trade accounts receivable        (1)    750,000     Inventories 1,000,000     Prepaid expenses    100,000           Total current assets      2,250,000 Noncurrent assets:     Property, plant and equipment        (2) 5,600,000     Investment in associate 1,300,000     Intangible assets        (3)    350,000           Total noncurrent assets     7,250,000 Total assets     9,500,000     11 LIABILITIES AND SHAREHOLDERS’ EQUITY      Note Current liabilities:     Trade and other payables        (4) 1,350,000     Mortgage note payable-current portion    400,000           Total current liabilities 1,750,000 Noncurrent liabilities:     Mortgage note payable, remaining position
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FinAcc1-4 - Problem24 RelaxCompany...

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