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Marin Inc. shows a balance of $522,490 in the Accounts Receivable account on December 31, 2020. The balance consists of the following: Instalment accounts due
Marin Inc. shows a balance of $522,490 in the Accounts Receivable account on December 31, 2020. The balance consists of the following:
Instalment accounts due in 2021 | $95,000 | |
Instalment accounts due after 2021 | 78,000 | |
Overpayments to creditors | 12,660 | |
Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan | 164,000 | |
Advances to employees | 69,830 | |
Advance to subsidiary company (made in 2015) | 103,000 | |
$522,490 |
Show how the information above should be presented on the statement of financial position of Marin Inc. at December 31, 2020.
lolicial Marin Inc. Statement of Financial Position December 31, 2020 Current Assets Accounts receivable Customers Instalment accounts collectible due after December 31, 2021 $ Instalment accounts collectible due in 2021 Total from customers Other $ Non-Current Accounts Receivable Advance to subsidiary company Instalment accounts collectible due after December 31, 2021
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