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Prepare a properly classified statement of financial position for ABC Company as of December 31, 2021.

Prepare a properly classified statement of financial position for ABC Company as of December 31, 2021.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...
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The December 31, 2021 statement of financial position accounts of ABC Company are shown below in alphabetical order: Required: Prepare a properly classified statement of financial position for ABC Company as of December 31, 2021.


Account Amount Accounts Payable 236,000.00 115,000.00 22,000.00 17,000.00 530,000.00 351,000.00 Accounts Receivable Accumulated Amortization - Patents Accumulated Amortization - Trademarks Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Allowance for Bad Debts 8,000.00 45,000.00 770,000.00 1,440,000.00 35,000.00 50,000.00 69,000.00 624,000.00 61,000.00 150,000.00 322,000.00 250,000.00 1,300,000.00 1,300,000.00 120,000.00 210,000.00 262,000.00 20,000.00 24,000.00 240,000.00 81,000.00 60,000.00 80,000.00 Appropriated Retained Eamings Bonds Payable Buildings Cash and Cash Equivalents Deferred Tax Liability Discount of Bonds Payable Equipment Financial Assets at FVPL Income Tax Payable Inventory Investment in Associates Land Ordinary Share Capital Patents Preference Share Capital Retained Eamings Salaries Payable Share Dividends Distrībutable Share Premium - Ordinary Share Premium - Preference Trademarks Withholding Taxes Payable
Transcribed Image Text:Account Amount Accounts Payable 236,000.00 115,000.00 22,000.00 17,000.00 530,000.00 351,000.00 Accounts Receivable Accumulated Amortization - Patents Accumulated Amortization - Trademarks Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Allowance for Bad Debts 8,000.00 45,000.00 770,000.00 1,440,000.00 35,000.00 50,000.00 69,000.00 624,000.00 61,000.00 150,000.00 322,000.00 250,000.00 1,300,000.00 1,300,000.00 120,000.00 210,000.00 262,000.00 20,000.00 24,000.00 240,000.00 81,000.00 60,000.00 80,000.00 Appropriated Retained Eamings Bonds Payable Buildings Cash and Cash Equivalents Deferred Tax Liability Discount of Bonds Payable Equipment Financial Assets at FVPL Income Tax Payable Inventory Investment in Associates Land Ordinary Share Capital Patents Preference Share Capital Retained Eamings Salaries Payable Share Dividends Distrībutable Share Premium - Ordinary Share Premium - Preference Trademarks Withholding Taxes Payable
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