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  3. presented below are a number of statement of finan

Presented below are a number of statement of financial position items for ABC, Inc., for...

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Finance

Presented below are a number of statement of financial position items for ABC, Inc., for the current year, 2020. Goodwill SR 125,000 Accumulated Depreciation - Equipment SR 292,000 Payroll Taxes Payable 177,591 Inventories 239,800 Bonds Payable 285,000 Rent Payable - Short-term 45,000 Cash 360,000 Taxes Payable 98,362 Land 480,000 Long-term Rental Obligations 480,000 Notes Receivable 445,700 Share Capital - Ordinary, SAR1 Par Value 200,000 Notes Payable to Banks 265,000 Share Capital - Preference, SAR10 Par Value 150,000 Accounts Payable 490,000 Prepaid Expenses 87,920 Retained Earnings 713,897 Equipment 1,470,000 Income Taxes Receivable 97,630 Trading Securities 121,000 Unsecured Notes Payable (Long-term) 1,600,000 Accumulated Depreciation - Building 270,200 Building 1,640,000 Prepare a classified statement of financial position in good form as per IFRS. (1.5 marks) Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of trading securities are the same .

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