Using your answers to Short Exercise 5 17, show how the First Interstate Bank will report the following a Whatever needs to be reported on its classified balance sheet at June 30, 2013 b Whatever needs to be reported on its income statement for the year ended June 30, 2013 c Whatever needs to be re...

a BALANCE SHEET June 30 2013 Current assets Note receivable 5000 I ...

Using your answers to Short Exercise 5-17, show how the First Interstate Bank will report the following:

Question:

Using your answers to Short Exercise 5-17, show how the First Interstate Bank will report the following:
a. Whatever needs to be reported on its classified at June 30, 2013.
b. Whatever needs to be reported on its income statement for the year ended June 30, 2013.
c. Whatever needs to be reported on its classified at June 30, 2014.
Ignore Cash.
d. Whatever needs to be reported on its income statement for the year ended June 30, 2014.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...