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. AccountAmountAccounts Payable236,000.00115,000.0022,000.0017,000.00530,000.00351,000.00Accounts ReceivableAccumulated Amortization - PatentsAccumulated Amortization - TrademarksAccumulated Depreciation - BuildingsAccumulated Depreciation - EquipmentAllowance for Bad Debts8,000.0045,000.00770,000.001,440,000.0035,000.0050,000.0069,000.00624,000.0061,000.00150,000.00322,000.00250,000.001,300,000.001,300,000.00120,000.00210,000.00262,000.0020,000.0024,000.00240,000.0081,000.0060,000.0080,000.00Appropriated Retained EamingsBonds PayableBuildingsCash and Cash EquivalentsDeferred Tax LiabilityDiscount of Bonds PayableEquipmentFinancial Assets at FVPLIncome Tax PayableInventoryInvestment in AssociatesLandOrdinary Share CapitalPatentsPreference Share CapitalRetained EamingsSalaries PayableShare Dividends DistrībutableShare Premium - OrdinaryShare Premium - PreferenceTrademarksWithholding Taxes Payable

Classified balance sheet which is also known as the classified statement of financial position is…

Answered: Prepare a properly classified statement…

Business

Accounting

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

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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