HKG is an international airline offering scheduled passenger and cargo services to 116 destinations in 35 countries and territories. The company was founded in Hong Kong in 1946 and remains deeply committed to its home base, making substantial investments to develop Hong Kong as one of the world's leading global transportation hubs. In addition to the fleet of 123 wide-bodied aircraft, these investments include catering, aircraft maintenance, and ground-handling companies, and the corporate. The following titles were shown on Cathay's statement of financial position in a recent year.
Current portion of long-term liabilities.............Non-controlling interest
Deferred taxation......................................Net non-current assets
Fixed assets.............................................Other long-term receivables and investments
Funds attributable to owners of Cathay Pacific...Reserves
.............................................................Retirement benefit obligations
Intangible assets.........................................Share capital-ordinary
Investments in associates..............................Taxation
Liquid funds.............................................Trade and other payables
Long-term liabilities....................................Trade and other receivables
.............................................................Unearned transportation revenue
Instructions
a. Organize the accounts in the general order in which they would be presented in a classified statement of financial position.
b. When Cathay passengers purchase tickets for travel on future flights, what statement of financial position accounts are most likely affected? Do the balances in these accounts decrease or increase?