These items are taken from the financial statements of Monty Corp. at December 31, 2018. Buildings $142,830 Accounts rec

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These Items Are Taken From The Financial Statements Of Monty Corp At December 31 2018 Buildings 142 830 Accounts Rec 1 (322.59 KiB) Viewed 42 times

These items are taken from the financial statements of Monty Corp. at December 31, 2018. Buildings $142,830 Accounts receivable 17,010 Prepaid insurance 6,318 Cash 15,984 Equipment 111,240 Land 82,620 Office expense 783 Income tax expense 270 Depreciation expense 7,155 Interest expense 3,510 Common shares 83,700 Retained earnings (January 1, 2018) 54,000 Accumulated depreciation-building 61,560
Accounts payable 11,340 Income taxes payable 1,485 Bank loan payable (due July 1, 2020) 126,360 Accumulated depreciation-equipment 25,272 Interest payable 4,860 Sales 19,143
MONTY CORP. Statement of Financial Position December 31, 2018 Assets Current Assets Cash 15984 Accounts Receivable 17010 Prepaid Insurance 6318 Total Current Assets 39312 Property. Plant, and Equipment Land $ 82620 Equipment 111240 Less Accumulated Depreciation DOO 25272 85968 Buildings 142830
Less Accumulated Depreciation 61560 81270 Total Property, Plant, and Equipment 249858 Total Assets 289170 Liabilities and Shareholders' Equity Current Liabilities Accounts Payable 11340 Income Tax Payable 1485 Interest Payable 4860 Total Current Liabilities 17685 Non-Current Liabilities ✓ Bank Loan Payable 126360 Total Liabilities 144045
Shareholders' Equity Common Shares $ 83700 Retained Earnings 61425 Total Shareholders' Equity 145125 Total Liabilities and Shareholders' Equity ta 289170