Reference no: EM132956168
Question - An entity has the following accounts and their balances
Cash 1,000,000 Accounts payable 1,700,000
Accounts receivable 2,700,000 Income tax payable 800,000
Allow. for bad debts (250,000) Accrued liabilities 60,000
Cash dividends
Inventories 600,000 payable 150,000
Held for trading securities 200,000 Bonds payable 3,000,000
Investment in bonds Discount on bonds (amortized cost) 2,000,000 payable (200,000)
Advances to suppliers 50,000 Warranty obligation 800,000
Prepaid supplies 80,000 Unearned revenue 360,000
Biological assets 300,000 Share capital 2,000,000
Investment property 200,000 Share premium 500,000
Investment in associate 180,000 Retained earnings 830,000
Property, plant & Equipment 2,140,000
Cash surrender value 800,000
Total assets 10,000,000 Total liab. & equity 10,000,000
Requirement - Compute the net monetary items.
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