Reference no: EM132765225
The following data will be used to prepare ELK's financial statement. Based on this data (unit: US dollar), answer each of the following questions:
Building: 20,000,
Accrued Payable: 9,000,
Cash: 3,500,
Capital Stock: 10,000,
Unearned Revenue: 2,400,
Accounts Payable: 3,500,
Accounts Receivable: 10,000,
Trade Receivables: 12,400,
Prepaid Expense: 1,500,
Retained Earnings: 5,250,
Long-Term Financial Assets: 2,750
Problem 1: What is the total amount of assets in the financial statement?
Problem 2: What is the total amount of liabilities in the financial statement?
Problem 3: What is the total amount of equity in the financial statement?
Problem 4: What is the total amount of non-current asset in the financial statement?
Problem 5: What is the difference between current assets and current liabilities in the financial statement?