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E5.4 (LO1, 2) (Preparation of a Classified Statement of Financial Position) Assume that Gulistan AG has the following accounts at the end of the current

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E5.4 (LO1, 2) (Preparation of a Classified Statement of Financial Position) Assume that Gulistan AG has the following accounts at the end of the current year. 1. Share Capital-Ordinary. 2. Notes Payable (long-term). 3. Treasury Shares (at cost). 4. Note Payable (short-term). 5. Raw Materials. 6. Long-Term Investment in Preference Shares. 7. Unearned Rent Revenue. 8. Work in Process 9. Copyrights. 10. Buildings. 11. Notes Receivable (short-term). 12. Cash. 13. Salaries and Wages Payable. 14. Accumulated Depreciation-Buildings. 15. Cash Restricted for Plant Expansion. 16. Land Held for Future Plant Site. 17. Allowance for Doubtful Accounts (Accounts Receivable). 18. Retained Earnings. 19. Share Premium-Ordinary. 20. Unearned Service Revenue. 21. Receivables ---Officers (due in 1 year). 22. Finished Goods 23. Accounts Receivable. 24. Bonds Payable (due in 4 years). Instructions Prepare a classified statement of financial position in good form. (No monetary amounts are necessary.)

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