Question
Tamarisk, Inc. shows a balance of $425,200 in the Accounts Receivable account on December 31, 2017. The balance consists of the following: Tamarisk, Inc. shows
Tamarisk, Inc. shows a balance of $425,200 in the Accounts Receivable account on December 31, 2017. The balance consists of the following:
Installment accounts due in 2018 | $92,500 | |
Installment accounts due after 2018 | 78,000 | |
Overpayments to creditors | 12,580 | |
Due from regular customers, of which $40,000 represents accounts pledged as security for a bank loan | 167,000 | |
Advances to employees | 69,790 | |
Advance to subsidiary company (made in 2012) | 105,000 | |
$524,870 |
Show how the information above should be presented on the statement of financial position of Tamarisk, Inc. at December 31, 2017
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
4th Edition
1119607515, 978-1119607519
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