Marcus Corporation, a British firm, has an adjusted trial balance that contained the following liability accounts at December 31, 2013.Bonds Payable (due in 3 years) £100,000; Accounts Payable £72,000; Notes Payable (due in 90 days) £22,500; Accrued Salaries £4,000; Income Taxes Payable £7,000.
Required: Prepare the current liabilities section of the statement of financial position, using the most common IFRS sequence of accounts presentation.

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The Answer of Marcus Corporation, a British firm, has an adjusted trial balance that contained the following liability accounts at December 31, 2013.Bonds Payable (due in 3 years) £100,000; Accounts Payable £72,000; Notes Payable (due in 90 days) £22,500; Accrued Salaries £4,000; Income Taxes Payable £7,000.
Required: Prepare the current liabilities section of the statement of financial position, using the most common IFRS sequence of accounts presentation.

Marcus Corporation, a British Firm, Has an Adjusted Trial Balance