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Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a benk account held at a different
Prepare a revised statement of financial position using the available information. Assume that the bank overdraft relates to a benk account held at a different bank from the account with the cash balance. Assume that the accumulated depreciation balance for the buildings is $270,000 and that the accumulated depreciation balance for the equipment is $225,000. The allowance for expected credit losses has a balance of $22,000. The pension obligation is considered a long-term liability. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Buildings, and Equipment.) Property, Plent, and Egulement Buldings Less V: Aceumulatad Deproblation-Bullalinga Equlgmant Intaralole Asacts-Franchlos [nat] Totel Asonta Sarasota Corp. has decided to expand its operations. The bookkeeper recently completed the following statement of financial position Current Assets Cash FV-NI Investments Accounts Recelvable Less : Allowance for Doubtful Accounts Inventory Prepald Expenses Total Current Assets Long-Term Investments Land Held for Future Use Investments Current Llabllitles A.ccounts Payable Notes Pryable Bank Overdraft Rent Payable Total Current Llabilitles Long-Term Llabillties Bonds Payable Pension Obligation Total Llabilitiles Shareholders' Equity Common Shares Contrlbuted Surplus Retalned Earnings Total Shareholders' Equity Total Llabilitles and Shareholders' Equity
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