Question
The following accounts and amounts (in thousands) were taken from the 2018 financial statements of Bramble Instruments, Inc. Common shares $2,610 Cash $1,090 Prepaid insurance
The following accounts and amounts (in thousands) were taken from the 2018 financial statements of Bramble Instruments, Inc.
Common shares $2,610 Cash $1,090 Prepaid insurance 960 Accumulated depreciation-equipment 4,000 Equipment 9,360 Accounts payable 1,345 Salaries payable 210 Mortgage payable (due 2028) 1,045 Inventory 2,110 Retained earnings 6,590 Held for trading investments 1,420 Accounts receivable 905 Income tax payable 45
Prepare a classified statement of financial position as at December 31, 2018. (List Current Assets in order of liquidity.)
BRAMBLE INSTRUMENTS INC. Statement of Financial Position December 31, 2018 (in thousands) | ||||
---|---|---|---|---|
Assets |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started