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
Month Date, Year
Assets
Current assets:
Cash and cash equivalent (include Petty Cash)		XXXX
FV-NI Investments		XXXX
Accounts Receivable	XXXX
Allowance for Doubtful Accounts (less)	(XXX)	XXXX
Inventory		XXXX
Prepaid Rent		XXXX
Advances to Employees		XXXX
Interest Receivable		XXXX
Total Current Assets			XXXX
Investments:
FV-OCI Investments		XXXX
Restricted Cash		XXXX
Notes Receivable (due in five years)		XXXX
Land Held for Future Plant Site		XXXX
Total investments			XXXX
Property, plant and equipment:
Land		XXXX
Buildings	XXXX
Accumulated Depreciation—Buildings (less)	(XXX)	XXXX
Equipment	XXXX
Accumulated depreciation-Equipment (less)	(XXX)	XXXX
Total Property, plant and equipment			XXXX
Intangible assets:
Intangible Assets—Patents (net)		XXXX
Intangible Assets—Copyrights (net)		XXXX
Total intangible assets			XXXX
Total assets			XXXXX

Liabilities
Current liabilities:
Unearned Revenue		XXXX
Salaries and Wages Payable		XXXX
Income Tax Payable		XXXX
Pension Obligation (non-current)		XXXX
Dividends Payable		XXXX
Notes Payable (due in six months)		XXXX
Total current liabilities			XXXX
Long-term liabilities:
Bonds Payable (due in four years)		XXXX
Total long term liabilities			XXXX
Total liabilities			XXXX
Stockholders' Equity
Common Stock		XXXX
Preferred Stock		XXXX
Retained Earnings		XXXX
Accumulated Other Comprehensive Income		XXXX
Total stockholders' equity			XXXX
Total liabilities and stockholders' equity			XXXXX

ekkarill92 answered 1 year ago

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