Make non current assets, current assets in balance sheet

To address this and make the balance sheet balance, we will proceed with the assumption that the Total Assets (S760,000) and Total Shareholders' Equity (S520,000) are correct. This means that the Total Liabilities must be adjusted to S240,000 (S760,000 Assets - S520,000 Equity). This implies that the Noncurrent Liabilities of S200,000 from your draft are not included, leaving only the Current Liabilities of S240,000.

Now, let's apply your request to reclassify all noncurrent assets as current assets:

• Original Current Assets: S300,000
• Original Noncurrent Assets: S460,000

By reclassifying, the new Current Assets will be the sum of the original current and noncurrent assets:

$$\text{New Current Assets} = \text{S}300,000 + \text{S}460,000 = \text{S}760,000$$

The Noncurrent Assets will now be S0. The Total Assets remain S760,000.

Here is the updated balance sheet with these adjustments:

Balance Sheet

Assets	Amount
Current Assets	S760,000
Noncurrent Assets	S0
Total Assets	S760,000
Liabilities
Current Liabilities	S240,000
Noncurrent Liabilities	S0
Total Liabilities	S240,000
Shareholders' Equity
Share Capital	S400,000
Retained Earnings	S120,000
Total Shareholders' Equity	S520,000
Total Liabilities & Equity	S760,000

The balance sheet now balances:

$$\text{Total Assets (S760,000)} = \text{Total Liabilities (S240,000)} + \text{Total Shareholders' Equity (S520,000)}$$ $$\text{S}760,000 = \text{S}760,000$$