Several statement of financial position accounts of Greenspoon Inc. follow:
1. FV-OCI Investments
2. Common Shares
3. Dividends Payable
4. Accumulated Depreciation- Equipment
5. Construction in Process (Warehouse)
6. Petty Cash
7. Interest Payable
8. Deficit
9. FV- NI Investments
10. Income Tax Payable
11. Unearned Subscriptions Revenue
12. Work-in-Process Inventory-Direct Materials
13. Salaries and Wages Payable
14. Unearned Revenue
Instructions
For each account, indicate the proper statement of financial position classification. In the case of borderline items that could be classified in more than one category, indicate the additional information that would be required to determine the proper classification. (Refer to Illustration 5-1 as a guideline.) Also identify which items are monetary and which are financial instruments (or both).