Question

The assets (in thousands) that follow were taken from the September 30, 2018, statement of financial position for Buhler Industries Inc.:

Accounts receivable		$58,272
Accumulated depreciation—buildings		18,510
Accumulated depreciation—computer equipment		7,401
Accumulated depreciation—equipment		54,891
Buildings		28,556
Computer equipment		8,437
Equipment		60,869
Income tax receivable		2,802
Inventory		171,612
Investments (non-current)		5,736
Land		3,673
Long-term other receivables		28,413
Prepaid expenses		2,810

(a)

Prepare the assets section of the statement of financial position.(List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Land, Buildings, Equipment and Computer Equipment. Show all amounts in thousands of dollars.)

Answer 1

The assets section of the statement of financial position is as follows:

Assets	$(000)	$(000)
Current Assets:
Income tax receivable	2,802
Account Receivable	58,272
Inventory	171,612
Prepaid Expenses	2,810
Total current Assets		235,496
Investments (non-current)		5,736
Long-term other receivables		28,413
Property, Plant and Equipment
Land		3,673
Buildings	28,556
Accumulated Depreciation	18,510	10,046
Computer equipment	8,437
Accumulated depreciation	7,401	1,036
Equipment	60,869
Accumulated depreciation	54,891	5,978
Total Assets		$290,378