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    Activity 2 - Alaska Company - ADEVA, MKA

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    Maria Kathreena Andrea Adeva
    The Alaska Company has total assets of $12.9 million as of December 31, 2019, consisting of current assets of $2.79 million and non-current assets of $10.11 million. Its total liabilities are $7 million, including current liabilities of $1 million and non-current liabilities of $6 million. The company's total shareholder's equity is $5.9 million, made up of share capital of $7 million, reserves of $700,000, and retained earnings of -$1.8 million.

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    Activity 2 - Alaska Company - ADEVA, MKA

    Uploaded by

    Maria Kathreena Andrea Adeva
    36 views3 pages
    The Alaska Company has total assets of $12.9 million as of December 31, 2019, consisting of current assets of $2.79 million and non-current assets of $10.11 million. Its total liabilities are $7 million, including current liabilities of $1 million and non-current liabilities of $6 million. The company's total shareholder's equity is $5.9 million, made up of share capital of $7 million, reserves of $700,000, and retained earnings of -$1.8 million.

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    Activity 2_Alaska Company_ADEVA, MKA

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    The Alaska Company has total assets of $12.9 million as of December 31, 2019, consisting of current assets of $2.79 million and non-current assets of $10.11 million. Its total liabilities are $7 million, including current liabilities of $1 million and non-current liabilities of $6 million. The company's total shareholder's equity is $5.9 million, made up of share capital of $7 million, reserves of $700,000, and retained earnings of -$1.8 million.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    36 views3 pages

    Activity 2 - Alaska Company - ADEVA, MKA

    Uploaded by

    Maria Kathreena Andrea Adeva
    The Alaska Company has total assets of $12.9 million as of December 31, 2019, consisting of current assets of $2.79 million and non-current assets of $10.11 million. Its total liabilities are $7 million, including current liabilities of $1 million and non-current liabilities of $6 million. The company's total shareholder's equity is $5.9 million, made up of share capital of $7 million, reserves of $700,000, and retained earnings of -$1.8 million.

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    ALASKA COMPANY

    Statement of Financial Position


    December 31, 2019

    Assets

    Current assets: Note:


    Cash and cash equivalents 1 780,000 780,000
    Trade and other receivables 2 640,000 640,000
    Inventories 1,300,000 1,300,000
    Prepaid expenses 70,000 70,000
    Total current asset 2,790,000
    Non-current asset:
    Property, plant, and equipment 3 5,300,000 5,300,000
    Long-term investments 4 1,310,000 1,310,000
    Intangible asset 5 3,350,000 3,350,000
    Other non-current asset 6 150,000 150,000
    Total non-current asset 10,110,000
    Total assets 12,900,000

    Liabilities and Shareholder's Equity

    Current liabilities:
    Trade and other payables 7 1,000,000
    Non-current liabilities:
    Bonds payable 5,000,000
    Premium on bonds payable 1,000,000
    Total non-current liabilities 6,000,000
    Shareholder's equity:
    Share capital 8 7,000,000
    Reserves 9 700,000
    Retained Earnings (deficit) -1,800,000
    Total shareholder's equity 5,900,000
    Total liabilities and shareholder's equity 12,900,000
    Note 1: Cash and Cash Equivalents

    Cash and cash equivalents 500,000


    Financial Assets held for Trading 280,000
    Total 780,000

    Note 2: Trade and other receivables

    Accounts Receivables 400,000


    Allowance for doubtful accounts -20,000
    Notes Receivables 250,000
    Accrued Interest on Notes receivable 10,000
    Total 640,000

    Note 3: Property, Plant, and Equipment

    Cost Accumulated Depreciation Book Vaue


    Land 1,500,000 1,500,000
    Building 5,000,000 -2,000,000 3,000,000
    Equipment 1,000,000 -200,000 800,000
    Total 7,500,000 -2,200,000 5,300,000

    Note 4: Long-term Investments

    Land held for speculation 500,000


    Sinking Fund 400,000
    Preference Share Redemption Fund 350,000
    Cash Surrender Value 60,000
    Total 1,310,000

    Note 5: Intangible asset

    Computer software 3,250,000


    Lease Rights 100,000
    Total 3,350,000

    Note 6: Other non-current asset

    Advances to Officer- not currently collectible 100,000


    Long -Term refundable deposit 50,000
    Total 150,000

    Note 7: Trade and other payables


    Accounts Payable 400,000
    Notes Payable 300,000
    Unearned Rent Income 40,000
    SSS Payable 10,000
    Accrued salaries 100,000
    Dividends payable 120,000
    Withholding Tax Payable 30,000
    Total 1,000,000

    Notes 8: Share Capital

    Preference Share Capital 2,000,000


    Ordinary Share Capital 5,000,000
    Total 7,000,000

    Note 9: Reserves

    Share premium- preference 500,000


    Share premium- ordinary 200,000
    Total 700,000

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