P5-3 (Statement of Financial Position Adjustment and Preparation) The adjusted trial balance for Asian-Pacific Company and other related information for the year 2015 are presented below (amounts in thousands).
ASIAN-PACIFIC COMPANY
ADJUSTED TRIAL BALANCE
DECEMBER 31, 2015
Debit Credit
Cash ¥ 41,000
Accounts Receivable 163,500
Allowance for Doubtful Accounts ¥ 8,700
Prepaid Insurance 5,900
Inventory 208,500
Long-term Investments 339,000
Land 85,000
Construction in Process 124,000
Patents 36,000
Equipment 400,000
Accumulated Depreciation—Equipment 240,000
Accounts Payable 148,000
Accrued Expenses 49,200
Notes Payable 94,000
Bonds Payable 180,000
Share Capital—Ordinary 500,000
Share Premium—Ordinary 45,000
Retained Earnings 138,000
¥1,402,900 ¥1,402,900