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Exercise 16.5 Current asset classification The general ledger trial balance of Thomas Ltd includes the following asset accounts at 30 June 2019. (a) Inventories (b)
Exercise 16.5 Current asset classification The general ledger trial balance of Thomas Ltd includes the following asset accounts at 30 June 2019. (a) Inventories (b) Trade receivables (c) Prepaid insurance (d) Listed investments held for trading purposes at fair value (e) Investments in financial assets (1) Cash (9) Deferred tax asset $ 100 000 120 000 8000 20 000 80 000 30 000 15000 Additional information Thomas Ltd's investments are part of a long-term investment strategy. The company classifies assets and liabilities using a currenton-current basis. Required Prepare the current asset section of the statement of financial position of Thomas Ltd as at 30 June 2019, using the minimum line items permitted under AASB 101/IAS 1. (L03)
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