Bramble Limited reports the following selected information at December 31, 2024: Accounts receivable $295,000 Interest income $12,000 Advances to employees 11,000 Interest receivable 8,000 Allow. for expected credit losses 16,000 Inventory 221,000 Credit losses 20,000 Notes receivable (due in 120 days) 49,000 Cost of goods sold 2,350,000 Notes receivable (due in 4 years) 147,000 Depreciation expense 100,000 Salaries expense 809,000 Income tax expense 147,000 Sales 3,700,000 Income tax receivable 14,900 Sales tax recoverable 5,100 Prepare a partial statement of financial position for Bramble Ltd. (List current assets in order of liquidity.) : BRAMBLE LTD. Statement of Financial Position (Partial) Assets $ $
Bramble Limited reports the following selected information at December 31, 2024: Accounts receivable $295,000 Interest income $12,000 Advances to employees 11,000 Interest receivable 8,000 Allow. for expected credit losses 16,000 Inventory 221,000 Credit losses 20,000 Notes receivable (due in 120 days) 49,000 Cost of goods sold 2,350,000 Notes receivable (due in 4 years) 147,000 Depreciation expense 100,000 Salaries expense 809,000 Income tax expense 147,000 Sales 3,700,000 Income tax receivable 14,900 Sales tax recoverable 5,100 Prepare a partial statement of financial position for Bramble Ltd. (List current assets in order of liquidity.) : BRAMBLE LTD. Statement of Financial Position (Partial) Assets $ $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Bramble Limited reports the following selected information at December 31, 2024:
Accounts receivable
$295,000
Interest income
$12,000
Advances to employees
11,000
Interest receivable
8,000
Allow. for expected credit losses
16,000
Inventory
221,000
Credit losses
20,000
Notes receivable (due in 120 days)
49,000
Cost of goods sold
2,350,000
Notes receivable (due in 4 years)
147,000
Depreciation expense
100,000
Salaries expense
809,000
Income tax expense
147,000
Sales
3,700,000
Income tax receivable
14,900
Sales tax recoverable
5,100
Prepare a partial statement of financial position for Bramble Ltd. (List current assets in order of liquidity.)
:
BRAMBLE LTD.
Statement of Financial Position (Partial)
Assets
$
$
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