Ambrosia Limited has the following balances as at December 31, 2017: accounts payable and accrued liabilities $20,000,

Question:

Ambrosia Limited has the following balances as at December 31, 2017: and accrued liabilities $20,000, wages payable $15,000, severance payable (due September 30, 2019) $15,000, and bonds payable of $140,000 due September 30, 2020 (current portion of $30,000). Prepare the liabilities section of the statement of financial position if Ambrosia presents liabilities
(a) In order of liquidity, and
(b) Segregated into current and non-current.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...