Question
Wintech Corporation is preparing its Statement of Financial Position (SFP) at December 31, 2020. The items below are under consideration. In the table below, show
Wintech Corporation is preparing its Statement of Financial Position (SFP) at December 31, 2020. The items below are under consideration. In the table below, show with appropriate captions, how each of these items (b to f) should be reported on the December 31, 2020 SFP. Where appropriate, report the current and non-current components of the SFP element and the amounts involved. Wintech uses IFRS. Item a is done as example below.
Item | Reporting on Dec. 31, 2020 SFP |
| Current liabilities Rent revenue collected in advance (or unearned rent venue)..$16,000 (done as example) |
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