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Based on the following selected information for Cruz Corporation: Current Assets Cash Cruz Corporation Statement of Financial Position December 31, 2019 Current liabilities $
Based on the following selected information for Cruz Corporation: Current Assets Cash Cruz Corporation Statement of Financial Position December 31, 2019 Current liabilities $ 84,100 Accounts payable $ 66,000 Accounts receivable 96,000 Salaries payable Prepaid utilities 15,000 Non-current liabilities Supplies 30,000 Bonds payable Inventory 90,000 Total liabilities 25,000 195.100 286,100 Non-current assets Land 105,000 Building $295,000 Common shares 220,100 Less: Accumulated Retained earnings 146,000 depreciation Trademark 130,400 $ 105,000 164,600 Total shareholders' equity 366.100 Less: Accumulated amortization 37,500 Total assets 67.500 $652,200 Total liabilities and shareholders' equity $652,200 When preparing the above Statement of Financial Position, the accountant for Cruz Corporation forgot that $25,000 of the amount recorded as Bonds Payable is due on February 15, 2020. What impact would this have on the amounts reported in the Statement of Financial Position?
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