Solution-Prepare a statement of financial position at

Prepare a statement of financial position at december

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Reference no: EM131799249

Statement of Financial Position At December 31, 2014 (in thousands of euro)

Assets
Goodwill and intangible assets	1,210
Less: Accumulated depreciation	(2,240)
Total non-current assets	(1,030)
Current assets:
Cash	5,300
Inventory	1,800
Total current assets	7,100
Total assets	6,070
Equity and Liabilities
Shareholders' equity:
Contributed capital	400
Total shareholders' equity	400
Total non-current liabilities	0
Current liabilities:
Total current liabilities	0
Total liabilities	0
Total liabilities and shareholders' equity	400

Glücklich Golfspieler (GG) is a golf club company headquartered in Germany. The company began its 2014 fiscal year with assets totalling 10.0 million euro but ended the year (on December 31, 2014) with total assets of 13.2 million euro. Account balances on December 31, 2014, appear below (in thousands of euro).


Accounts Payable	900
Accounts Receivable	460
Accrued Liabilities	990
Accumulated Depreciation	2,240
Buildings and Equipment	5,600
Cash	5,300
Contributed Capital	400
Goodwill and Intangible Assets	1,210
Inventory	1,800
Land	190
Notes Payable, due 2016	735
Other Long-Term Liabilities	1,325
Other Noncurrent Assets	540
Prepaid Expenses	340
Profit for the Year (Net Income)	4,000
Retained Earnings, Jan. 1, 2014	4,850
Sales Revenues	38,000

1. Prepare a statement of financial position at December 31, 2014

Reference no: EM131799249

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Prepare a statement of financial position at december

Reference no: EM131799249

Reference no: EM131799249

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