The following data, presented in alphabetical order, are taken from the records of Radar Industries Ltd.
Accounts payable ……………………………………………………………………………. € 240,000
Accounts receivable …………………………………………………………………………… 140,000
Accumulated depreciation—buildings ……………………………………………… 180,000
Accumulated depreciation—equipment ……………………………………………. 52,000
Allowance for doubtful accounts ………………………………………………………… 6,000
Bonds payable (10%, due 2023) ………………………………………………………. 540,000
Buildings …………………………………………………..………………………………………. 950,000
Cash ………………………………………………………………………..………………………….. 42,000
Dividends payable ………………………………………………………………………..……. 80,000
Equipment ……………………………………………………………..………………………… 275,000
Fair value adjustment—non-trading securities (Dr) ………………………….… 8,000
Goodwill ………………………………………………………………..…………………………. 200,000
Income taxes payable …………………………………………….……………………….. 120,000
Inventory ……………………………………………………………………………………….…. 170,000
Investment in Mara ordinary shares (30% ownership), at equity …… 380,000
Investment in Sasse ordinary shares (10% ownership), at cost ……… 278,000
Land …………………………………………………………………………………………………. 390,000
Notes payable (due 2021) ………………………………………………………..……….. 70,000
Prepaid insurance ……………………………………………………………………………… 16,000
Retained earnings ………………………………………………………………………..…. 103,000
Share capital—ordinary (€10 par value; 500,000 shares authorized,
150,000 shares issued) ………………………………………………………………….. 1,500,000
Share premium—ordinary ………………………………………………………….…… 130,000
Short-term investments, at fair value (and cost) ………………………..… 180,000
Unrealized gain—non-trading securities …………………………..…………….. 8,000
Instructions
Prepare a classified statement of financial position at December 31, 2020.
