Assume that, as of February 1, 2014, Tim Hortons had $100,000 of Notes Receivable due before January

Question:

Assume that, as of February 1, 2014, Tim Hortons had $100,000 of Notes Receivable due before January 31, 2015, $1,268,000 of Accounts Receivable, and $249,000 in its Allowance for Doubtful Accounts (all related to accounts receivable). How should these accounts be reported on a prepared following ASPE? What if the follows IFRS, as described in Chapter 5?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...