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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Question

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

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