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format of foreign balance sheet following is a balance sheet presented in standard u 691756

Format of Foreign Balance Sheet

Following is a balance sheet presented in standard U.S. format. Rearrange this balance sheet to be in standard British format. Don’t worry about differences in terminology; use the U.S. labels, but present the information in the British format.

Current Assets:

 

Cash                                                                    

$ 500

Inventory                                                                

2,000

Total current assets                                                         

$ 2,500

Noncurrent Assets:

 

Property, plant, and equipment                                                 

$ 8,000

Long term investments                                                       

1,700

Total noncurrent assets                                                       

$ 9,700

Total assets                                                               

$12,200

Current Liabilities:

 

Accounts payable                                                           

$ 300

Short term loans payable                                                     

1,100

Total current liabilities                                                       

$ 1,400

Noncurrent Liabilities:

 

Long term debt                                                             

$ 3,000

Stockholders’ Equity:

 

Common stock, at par                                                       

$ 50

Additional paid in capital                                                     

2,000

Retained earnings                                                          

5,750

Total stockholders’ equity                                                     

$ 7,800

Total liabilities and stockholders’ equity                                           

$12,200

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