This document is a performance task examination. It consists of questions along with the answers to those questions. Additionally, this document contains tables for the balance sheet and a single-item question that is an essay.
Instruction: Copy this file, place and show your answers below this page by including
your solution/s on hand. Have this file save in PDF file. Please follow the format such as
the font style, and size.
A deduction of points for those who will not follow the basic instructions. So kindly, keenly,
carefully follow the instruction well as I will be giving 1 attempt only.
Below are the accounts of Shingen Trading for the year ended on December 31, 2015.
Accounts Payable 200,000
Accounts Receivable 280,000
Padawan, Capital 3,680,000
Padawan, Withdrawal 100,000
Cash 2,000,000
Inventories 900,000
Bonds Payable 600,000
Notes Payable 200,000
Notes Receivable 200,000
Property and Equipment 1,100,000
Supplies and other prepayments 200,000
Answer the following with solutions if needed:
1. How much is the total current asset of the entity?
2. How much is the total non-current assets of the entity?
3. How much is the total current liabilities of the entity?
4. How much is the total non-current liabilities of the entity?
5. How much is the total assets of the entity?
6. Why do you think current and non-current assets and liabilities are
differentiated?
, ABM3: MODULE 1 PERFORMANCE TASK
Instruction: Copy this file, place and show your answers below this page by including
your solution/s on hand. Have this file save in PDF file. Please follow the format such as
the font style, and size.
A deduction of points for those who will not follow the basic instructions. So kindly, keenly,
carefully follow the instruction well as I will be giving 1 attempt only.
Below are the accounts of Shingen Trading for the year ended on December 31, 2015.
Accounts Payable 200,000
Accounts Receivable 280,000
Padawan, Capital 3,680,000
Padawan, Withdrawal 100,000
Cash 2,000,000
Inventories 900,000
Bonds Payable 600,000
Notes Payable 200,000
Notes Receivable 200,000
Property and Equipment 1,100,000
Supplies and other prepayments 200,000
Answer the following with solutions if needed:
1. How much is the total current asset of the entity?
SHINGEN TRADING
STATEMENT OF FINANCIAL POSITION
FOR THE YEAR ENDED ON DECEMBER 31, 2015
Assets
Current Assets
Cash 2,000,000
Accounts Receivable 280,000
Inventories 900,000
Notes Receivable 200,000
Supplies and Other Prepayments 200,000
Total Current Assets 3,580,000
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