Prepare a classified statement of financial position as at December 31, 2024. The note payable is due in six months and the loan payable is due in 5 years. (List Current Assets in order of liquidity. List Non-Current Assets in order of Buildings and Land.) ORIOLE COMPANY Statement of Financial Position December 31, 2024 Assets $

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Your assistant prepared the following adjusted trial balance data for Oriole Company on December 31, 2024. The accounts are
arranged in alphabetical order.
Accounts payable
Accounts receivable
Accumulated depreciation, buildings
Buildings
Cash
Common shares
Cost of goods sold
Depreciation expense
Dividends declared
Dividends payable
Income tax expense
Income tax payable
Insurance expense
Interest expense
Interest payable
Inventory
$28,800
53,600
16,000
58,000
19,200
68,000
88,000
3,625
9,900
3,200
6,400
1,600
1,140
1,360
240
24,000
Land
Loan payable
Miscellaneous expenses
Notes payable
Prepaid insurance
Retained earnings
Sales revenue
Selling expenses
Service revenue
Supplies
Supplies expense
Deferred revenue
Utilities expense
Wages expense
Wages payable
$65,600
38,400
10,400
12,000
400
25,645
143,800
21,600
74,500
640
1,760
960
1,920
48,000
2,400
Transcribed Image Text:Your assistant prepared the following adjusted trial balance data for Oriole Company on December 31, 2024. The accounts are arranged in alphabetical order. Accounts payable Accounts receivable Accumulated depreciation, buildings Buildings Cash Common shares Cost of goods sold Depreciation expense Dividends declared Dividends payable Income tax expense Income tax payable Insurance expense Interest expense Interest payable Inventory $28,800 53,600 16,000 58,000 19,200 68,000 88,000 3,625 9,900 3,200 6,400 1,600 1,140 1,360 240 24,000 Land Loan payable Miscellaneous expenses Notes payable Prepaid insurance Retained earnings Sales revenue Selling expenses Service revenue Supplies Supplies expense Deferred revenue Utilities expense Wages expense Wages payable $65,600 38,400 10,400 12,000 400 25,645 143,800 21,600 74,500 640 1,760 960 1,920 48,000 2,400
Prepare a classified statement of financial position as at December 31, 2024. The note payable is due in six months and the loan
payable is due in 5 years. (List Current Assets in order of liquidity. List Non-Current Assets in order of Buildings and Land.)
ORIOLE COMPANY
Statement of Financial Position
December 31, 2024
Assets
$
Liabilities and Shareholders' Equity
$
$
$
Transcribed Image Text:Prepare a classified statement of financial position as at December 31, 2024. The note payable is due in six months and the loan payable is due in 5 years. (List Current Assets in order of liquidity. List Non-Current Assets in order of Buildings and Land.) ORIOLE COMPANY Statement of Financial Position December 31, 2024 Assets $ Liabilities and Shareholders' Equity $ $ $
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