HOMEWORK 1.

Statement of Financial Position

From the following adjusted ledger balances of SHOE CAPITAL TRADING, answer the following questions.
The company has its year ending on March 31, 2020.

Accounts Payable 190,555.00

Accounts Receivable 205,735.00
Accumulated Depreciation – Delivery Equipment 265,535.00
Accumulated Depreciation –Office Equipment 111,297.00
Accumulated Depreciation – Office Furniture & Fixtures 60,823.50
Accumulated Depreciation – Store Equipment 65,596.00
Advances to Employees 18,975.00
Advertising Expense 44,850.00
Allowance for Doubtful Accounts 16,790.00
Cash 295,527.00
Cash equivalents 245,360.00
Commission Income 49,979.00
Delivery Equipment 1,023,500.00
Depreciation – Delivery Equipment 91,770.00
Depreciation – Office Equipment 20,470.00
Depreciation – Office Furniture and Fixtures 20,470.00
Depreciation – Store Equipment 22,425.00
Discount Lost 8,970.00
Discount on Notes Payable (long term) 2,645.00
Due to Customers 4,025.00
Due from Suppliers 6,440.00
Freight-in 21,735.00
Freight-out 19,537.35
Insurance Expense 27,600.00
Interest Expense 34,960.00
Interest Income 78,073.50
Interest Payable 33,844.50
Interest Receivable 3,427.00
Loss on Sale of Office Equipment 6,244.50
Converse, Capital ?
Merchandise Inventory, April 1, 2019 120,750.00
Notes Payable 86,250.00
Notes Payable (3 years) 575,000.00
Notes Receivable (250,000 to be paid in January 2021) 828,000.00
Office Equipment 368,747.50
Office Furniture and Fixtures 203,538.50
Office Supplies 12,880.00
Office Supplies Expense 20,677.00
Petty Cash Fund 15,800.00
Prepaid Insurance 27,600.00
Purchase Discounts 36,915.00
Purchase Returns and Allowances 16,537.00
Purchases 1,427,115.50
Rent Expense 207,000.00
Repairs and Maintenance 11,293.00
Salaries and Wages 205,758.00
Sales 4,577,414.00
Sales Discount 47,414.50
Sales Returns and Allowances 22,850.50
Store Equipment 230,000.00
Store Supplies 16,077.00
Store Supplies Expense 11,247.00
Tax Payable 235,000.00
Utilities Expense 217,718.00
Merchandise Inventory, October 31, 2018 217,925.00
Answer the following questions in good accounting format.
Double rule all final answers. No solutions, no credit.

1 How much is the total cash and cash equivalents? (2 pts.)

2 How much is the total trade and other receivables? (2 pts.)
3 How much is the total inventories? (2 pts.)
4 How much is the total property, plant, and equipment? (2 pts.)
5 How much is the total current asset? (2 pts.)
6 How much is the total non-current asset? (2 pts.)
7 How much is the total current liabilities? (2 pts.)
8 How much is the total non-current liabilities? (2 pts.)
9 How much is the total assets? (2 pts.)
10 How much is the total equity? (2 pts.)

After answering the questions, indicate how you will grade your partner based on participation and contribution.
Grade him/her 1 to 10, 10 being the highest.
Submission should be made per student, and not per pair.