pls answer the following question Prepare the current assets section of Bramble's statement of financial position as at December 31, 2023. (List Current Assets in order ofliquidity.)Current Assets✓:Total Current Assets>>>Bramble LimitedStatement of Financial Position (Partial)$ILI Selected accounts of Bramble Limited at December 31, 2023, follow:Finished Goods InventoryUnearned RevenueBank OverdraftEquipmentWork-in-Process InventoryCashFV-NI InvestmentsInterest PayableRestricted Cash (for Plant Expansion)1.2.3.4.5.6.$158,0007.105,0009,100The following additional information is available:363,00035,00068,00036,00041,00068,000Cost of Goods SoldNotes ReceivableAccounts ReceivableRaw Materials InventorySupplies ExpenseAllowance for Expected Credit LossesIntangible Assets-Trade NamesContributed SurplusCommon Shares$4,100,00043,000271,000317,00072,00020,00034,00016,000299,000Inventory is valued at the lower of cost and net realizable value using FIFO.Equipment is recorded at cost. Accumulated depreciation, calculated on a straight-line basis, is $53,600.The FV-NI investments have a fair value of $46,000.The notes receivable are due April 30, 2024, with interest receivable every April 30. The notes bear interest at 6%. (Hint:Accrue interest due on December 31, 2023.)The allowance for expected credit losses applies to the accounts receivable. Accounts receivable of $68,000 are pledged ascollateral on a bank loan.Intangible Assets-Trade Names are reported net of accumulated amortization of $19,000.The bank overdraft is at the same bank as the amount reported above under Cash and therefore Bramble has (correctly)chosen to net the bank overdraft and cash amounts for financial statement purposes.

Balance sheet shows the financial position of the company that involves the assets, liabilities, and…

Answered: Prepare the current assets section of…

Prepare the current assets section of Bramble's statement of financial position as at December 31, 2023. (Lis liquidity.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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