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Parker inc has the following cash balances

03/05/2021 Client: muhammad11 Deadline: 2 Day

Parker Inc. has the following cash balances:

First Bank ....................$ 150,000
Second Bank ..................(10,000)
Third Bank .......................25,000
Fourth Bank..................... (5,000)

Required:
1. Prepare the current assets and current liabilities section of Parker’s 2021 balance sheet, assuming Parker reports under U.S. GAAP.
2. Prepare the current assets and current liabilities section of Parker’s 2021 balance sheet, assuming Parker reports under IFRS.

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