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In: Accounting

A list of accounts follows: Accounts Receivable Pension Obligation (non-current) Land Bonds Payable (due in four...

A list of accounts follows:

Accounts Receivable Pension Obligation (non-current)
Land Bonds Payable (due in four years)
Salaries and Wages Payable Prepaid Rent
Land Held for Future Plant Site Buildings
Accumulated Depreciation—Buildings Dividends
Loss on Impairment Cash
Accumulated Depreciation—Equipment Cost of Goods Sold
Notes Payable (due in six months) Restricted Cash
Accumulated Other Comprehensive Income Notes Receivable (due in five years)
Intangible Assets—Patents (net of accumulated amortization) Commission Expense
Advances to Employees Retained Earnings
Advertising Expense Common Shares
Petty Cash Sales Revenue
Allowance for Doubtful Accounts Intangible Assets—Copyrights (net of accumulated amortization)
Preferred Shares Dividends Payable
FV-OCI Investments Selling Expenses
Equipment Inventory
Income Tax Payable Unearned Revenue
Gain on Disposal of Equipment Unrealized Gain or Loss—OCI
FV-NI Investments
Interest Receivable


Prepare a classified statement of financial position in good form, without specific amounts. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment.)

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Expert Solution

Company Name
Classified statement of financial position
Date,Month,Year
Assets
Current assets:
Cash and cash equivalent (inclusive of Petty Cash) XXX
FV-NI Investments XXX
Accounts Receivable XXX
Less:Allowance for Doubtful Accounts (XXX) XXX
Inventory XXX
Prepaid Rent XXX
Advances to Employees XXX
Interest Receivable XXX
Total Current Assets XXX
Investments:
FV-OCI Investments XXX
Restricted Cash XXX
Notes Receivable (due in five years) XXX
Land Held for Future Plant Site XXX
Total investments XXX
Property, plant and equipment:
Land XXX
Buildings XXX
   Less: Accumulated Depreciation—Buildings (XXX) XXX
Equipment XXX
    Less: Accumulated depreciation-Equipment (XXX) XXX
Total Property, plant and equipment XXX
Intangible assets:
Intangible Assets—Patents (net) XXX
Intangible Assets—Copyrights (net) XXX
Total intangible assets XXX
Total assets XXXX
Liabilities
Current liabilities:
Unearned Revenue XXX
Salaries and Wages Payable XXX
Income Tax Payable XXX
Pension Obligation (non-current) XXX
Dividends Payable XXX
Notes Payable (due in six months) XXX
Total current liabilities XXX
Long-term liabilities:
Bonds Payable (due in four years) XXX
Total long term liabilities XXX
Total liabilities XXX
Stockholders' Equity
Common Stock XXX
Preferred Stock XXX
Retained Earnings XXX
Accumulated Other Comprehensive Income XXX
Total stockholders' equity XXX
Total liabilities and stockholders' equity XXXX

ekkarill92 answered 1 year ago
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