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Prepare a classified statement of financial position

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Reference no: EM131866495

Problem - The following accounts and amounts (in thousands) were taken from the 2015 financial statements of Tailwind Instruments, Inc.

Common shares

$1,932

Cash

$735

Prepaid insurance

644

Accumulated deprecation

2,814

Equipment

6,647

Accounts payable

952

Salaries payable

95

Mortgage payable (due 2025)

746

 

Merchandise Inventory

1,449

Retained earnings

4,596

Trading investments

1,047

Accounts receivable

641

Income tax payable

28

 

 

Prepare a classified statement of financial position as at December 31, 2015.

Reference no: EM131866495

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