Prepare a Classified Statement of Financial Position for Jackson

School: Singapore Institute of Technology - Course: RFA ACC1012 - Subject: Accounting

s of December 31, 2023 Assets Current assets: Cash............................................................................$40,000 Marketable securities................................................10,000 Account receivable....................................................34,000 Inventories..................................................................75,000 Prepaid Rent...............................................................16,000 Total current assets..............................................175,000 Property, plant and equipment Machinery..................................................................145,000

Less: Accumulated depreciation................................(11,000) Net property, plant and equipment......................134,000 Intangibles..................................................................... Patent.........................................................................83,000 Total assets.......................................................$392,000 Liabilities and Shareholders' Equity Current liabilities: Accounts payable........................................................$8,000 Salaries and wages payable.........................................4,000 Taxes payable..............................................................32,000 Total current liabilities..........................................44,000 Non-current liabilities.................................................. Bonds payable........................................................200,000 Shareholders' equity...................................................... Ordinary share capital.................................................$100,000 Retained earnings.......................................................48,000 Total shareholders' equity..................................148,000 Total liabilities and shareholders' equity$