Required: Prepare the extracted Statement of Financial Position at as 31 December 2022. Shows all the workings.

What are the steps to be completed in preparing the opening IFRS statement of financial position?

A revenue was earned in 2019 but payment is not received until 2020. Using the accrual basis of accounting, the revenue should appear on:    A. the 2020 income statement  B. the 2019 income statement  C. both the 2019 and 2020 income statements  D. neither the 2019 nor 2020 income statement

1.32. Creating Balance Sheets and Income Statements.  Using the information in the below table, prepare a classified balance sheet for Erie Company as of December 31, 2019 and December 31, 2020, along with multi-step income statements for the years then ended

Following are the current asset and current liability sections of the balance sheets for Freedom Incorporated at January 31, 2023 and 2022 (in millions): Current Assets Cash Accounts receivable Inventories Total current assets Current Liabilities Note payable Accounts payable Other accrued liabilities Total current liabilities Req A January 31, 2023 $12 8 7 $ 27 Req B and C Working capital Current ratio 4 3 $ 11 January 31, 2022 Required: a. Calculate the working capital and current ratio at each balance sheet date. b. Evaluate the firm's liquidity at each balance sheet date. c. Assume that the firm operated at a loss during the year ended January 31, 2023. How could cash have increased during the year? $ 9 11 11 $ 31 Complete this question by entering your answers in the tabs below. 1 3 01/31/2023 01/31/2022 $8 Calculate the working capital and current ratio at each balance sheet date. Note: Enter "Working capital" in millions of dollars (i.e., 10,000,000 should be entered as 10).…