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