The following accounts are from XYZ, Inc. Balance Sheet as of December 31, 2020: Building Salaries...
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The following accounts are from XYZ, Inc. Balance Sheet as of December 31, 2020: Building Salaries Payable 25,000 OMR 10,000 OMR 15,000 OMR Cash Share Capital Intangible Assets: Patents and Trade Mark Account Receivable Notes Payable Retained Earnings 75,000 OMR 60,000 OMR 3,000 OMR 4,500 OMR Requirements: 1. What is the amount of XYZ's total Non-Current assets as of December 31, 2020? (Rubries: I mark for the correct account balances and answer- Total I mark) 2. Identify the accounts listed above that are Current liabilities. (Rubrics: 0.25 mark for the correct account identification- Total 0.5 mark) 3. What is the amount of XYZ's retained earmings as of December 31, 2020? (Hinti use the extended accounting equation) (Rubrics: 0.5 mark for the correct calculation and answer- Total 2 marks) 4. Prepare a balance sheet for XYZ as of December 31, 2020. (Rubrics: 0.25 mark for each correct element and correct form of balance sheet and heading, 0.5 mark for the carrect calculations of totals. Total 3.5 marks) The following accounts are from XYZ, Inc. Balance Sheet as of December 31, 2020: Building Salaries Payable 25,000 OMR 10,000 OMR 15,000 OMR Cash Share Capital Intangible Assets: Patents and Trade Mark Account Receivable Notes Payable Retained Earnings 75,000 OMR 60,000 OMR 3,000 OMR 4,500 OMR Requirements: 1. What is the amount of XYZ's total Non-Current assets as of December 31, 2020? (Rubries: I mark for the correct account balances and answer- Total I mark) 2. Identify the accounts listed above that are Current liabilities. (Rubrics: 0.25 mark for the correct account identification- Total 0.5 mark) 3. What is the amount of XYZ's retained earmings as of December 31, 2020? (Hinti use the extended accounting equation) (Rubrics: 0.5 mark for the correct calculation and answer- Total 2 marks) 4. Prepare a balance sheet for XYZ as of December 31, 2020. (Rubrics: 0.25 mark for each correct element and correct form of balance sheet and heading, 0.5 mark for the carrect calculations of totals. Total 3.5 marks)
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ANSWER 1 Amount of Total Non Current Assets of XTZ at December 312020 Building 25000 ... View the full answer
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