Wilson Company had the following cash balance items listed in its trial balance at 12/31/2016: Peterson Savings

Question:

Wilson Company had the following cash balance items listed in its trial balance at 12/31/2016: Peterson Savings and Loan: $50,000 Right Bank: (5,000) Clinton County Trust Bank: 10,000 If Wilson reports under IFRS, its 12/31/2016 would show what cash balance?
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...