The trial balance of Zhang Ltd. at December 31, 2020, follows: Instructions a. Prepare a classified statement

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The trial balance of Zhang Ltd. at December 31, 2020, follows:

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Instructions

a. Prepare a classified statement of financial position as at December 31, 2020. Ignore income taxes.

b. Digging Deeper Is there any situation where it would make more sense to have a statement of financial position that is not classified? If so, explain what it is and why.

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Related Book For  book-img-for-question

Intermediate Accounting Volume 1

ISBN: 978-1119496496

12th Canadian edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

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