6715 6716 6717 6718 6719

1 Cash balance after reversing check 400,000

AR - net 700,000
Inventory 1,200,000
Prepaid expenses 200,000
Land held for resale 2,000,000
Total current assets 4,500,000 A

Adjusted accounts payable (700,000 + 600,000) 1,300,000 A

TSHE 5,100,000 A

2 Cash 550,000
AR (1150,000 + 250,000) 1,400,000
Total current assets 1,950,000 A

RE 1/1 700,000
NI (3.6M - 2.6M) x 70% 700,000
RE 12/31 1,400,000

Share capital 500,000

Share premium 600,000
RE (as above) 1,400,000
Translation adjustment - debit (500,000)
Total Shareholders' Equity 2,000,000 B

3 Unrealized gain on equity investment at FVOCI 900,000

Unrealized loss on furtures contract designated as a cash flow hedge (400,000)
Remeasurement loss on increase in PBO due to changes in Act. Assump. (300,000)
Foreign translation adjustment gain 100,000
Revaluation surplus 2,500,000
Net other comprehensive income 2,800,000 D
OcI recycled to RE when realized 3,100,000 D

Net sales 9,500,000

Cost of goods sold (4,000,000)
Selling expenses (1,000,000)
Administrative expenses (1,200,000)
Interest expense (700,000)
Gain on expropriation 500,000
Income before taxes 3,100,000
Income tax expense (800,000)
Income from continuing operations 2,300,000
Income from discontinued operations 600,000
Net Income 2,900,000
Net OCI 2,800,000
Comprehensive income 5,700,000 C

4 Cash in bank (8M - 3M + 2.5M) 7,500,000

Coins and currencies on hand 800,000
Money market instrument 1,500,000
Bond sinking fund (bonds currently due) 1,000,000
Traveler's check 200,000
Manager's check 100,000
Total cash and cash equivalents 11,100,000 B

5 30 days or less 150,000

31 to 60 days 300,000
31 to 60 days 300,000
61 to 180 days 300,000
181 days to 1 year 600,000
Required allowance 1,350,000 A

Total doubtful accounts expense (2016 to 2018) 1,175,000

Total write off -200,000
Total recovery 75,000
Allowance for doubtful accounts 12/31/2018 1,050,000

1/1 Allowance 1,050,000

Total writeoff (200,000 + 100,000) -300,000
Recovery 100,000
Provision or DA exp. (SQUEEZED) 500,000 A
Required allowance 1,350,000