Current Attempt in Progress

On May $1,2020,$ Cullumber Flying School Ltd$.,$ a company that provides flying lessons, was started with an investment of $W48,600$

cash in the business. Following are the assets and liabilities of the company on May $31,2020,$ and the revenues and expenses for the

month of May $($all amounts in thousands$).$

No additional investments were made in May, but the company paid dividends of $$524,000$ during the month.

Your answer is partially correct.

Prepare a statement of financial position at May $31.($List Assets in reverse order of liquidity.$)$

CULLUMBER FLYING SCHOOL LTD$.$

Statement of Financial Position $($in thousands$)$

Question $6$ of $6$