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Prepare a classified statement of financial position.

Prepare a classified statement of financial position.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare a classified statement of financial position. (List current assets in reverse order of liquidity.) answer in text form with explanation computation for each steps clearly

The adjusted trial balance of Anthony Co. as of December 31, 2022, contains the following. Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Anthony Co. Adjusted Trial Balance December 31, 2022 Share Capital-Ordinary Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Debit $20,672 8,120 3,480 19,250 4,200 8,040 2,170 235 173 $66,340 Credit $6.095 6,900 6,672 21,200 12,510 12,790 173 $66,340 Prepare a classified statement of financial position. (List current assets in reverse order of liquidity) ANTHONY CO. Statement of Financial Position > > v << Assets $ Equity and Liabilities $ $ E
Transcribed Image Text:The adjusted trial balance of Anthony Co. as of December 31, 2022, contains the following. Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Anthony Co. Adjusted Trial Balance December 31, 2022 Share Capital-Ordinary Retained Earnings Dividends Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Debit $20,672 8,120 3,480 19,250 4,200 8,040 2,170 235 173 $66,340 Credit $6.095 6,900 6,672 21,200 12,510 12,790 173 $66,340 Prepare a classified statement of financial position. (List current assets in reverse order of liquidity) ANTHONY CO. Statement of Financial Position > > v << Assets $ Equity and Liabilities $ $ E
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