Chapter_6_-_Class_Discussion_Solutions_Libby_4th_edition

Chapter_6_-_Class_Discussion_Solutions_Libby_4th_edition -...

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P6–1 (1) E (2) L; (3) D; (4) I; (5) S; (6) M; (7) W; (8) B; (9) Q; (10) A; (11) R; (12) U; (13) N; (14) C; (15) G; (16) V; (17) H; (18) K; (19) J; (20) T; (21) O; (22) P; (23) F. P6–3 Req. 1 GOLD JEWELERS INC Statement of Financial Position As at December 31, 2012 Assets Current Assets Cash .............................................................................................. $ 58,000 Trade receivables .......................................................................... 71,000 Inventories ....................................................................................... 154,000 Prepayments ............................................................................. 1,000 Total current assets ................................................................... $284,000 Long-Term Investments (Shares of Z Corporation) ......................... 36,000 Property, Plant and Equipment Store equipment, at cost ............................................................... 67,000 Less accumulated depreciation ................................................... 13,000 Total property, plant and equipment ..................................... 54,000 Other Assets Used store equipment held for disposal ................................... 9,000 Total assets ................................................................................ $383,000 Liabilities Current Liabilities Trade payables ................................................................................ $ 58,000 Income taxes payable
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